On August 25th, China International Shipping Container (Group) Co., Ltd. (CIMC Group) announced the termination of its purchase of Maersk Container Industry.

The announcement states that after the signing of the Equity Purchase Agreement, both parties actively promote the implementation of the project. However, despite the best efforts made by both parties, the current concentration review of operators faces significant uncertainty, which may result in the inability to achieve the transaction prerequisites stipulated in the Equity Purchase Agreement. Therefore, after comprehensive and careful evaluation, both parties have decided to terminate this transaction on the date of this announcement.

The announcement states that CIMC Group is actively negotiating and communicating with APMM regarding the termination of the compensation obligations arising from this transaction, and evaluating the financial impact on the company. The termination of this transaction will not have a significant adverse impact on the group's main business operations. In the future, CIMC Group will continue to be committed to the development of its cold chain business, expanding the group's revenue sources, and further enhancing shareholder value.

On September 27, 2021, CIMC Group signed an Equity Purchase Agreement with A.P. Muller Maersk Group (APMM), in which CIMC Group plans to purchase Maersk Container Industry (MCI), a subsidiary of APMM. MCI includes two physical companies: Danish Maersk Industries and Qingdao Maersk Container Industry Co., Ltd.

Affected by the continued popularity of the transportation market, CIMC Group's revenue and net profit attributable to the parent company in the first quarter of this year were both new highs in quarterly performance in the past decade. In the first quarter, CIMC Group achieved a revenue of 35.559 billion yuan, an increase of 23.19% year-on-year. The net profit attributable to shareholders and other equity holders of the parent company was 1.706 billion yuan, a year-on-year increase of 13.2%.

文章来源：澎湃新闻、维运网