In October 22, 2012, Zhejiang Provincial Energy Group signed contact with related shareholders of China Shipping Group, Ningbo Marine Company’s controlling shareholder, purchasing 51% share from China Shipping Group.
Then Zhejiang Provincial Energy Group has become the controlling shareholder of China Shipping Group and indirectly controlled 41.90% share of Ningbo Marine Company, which triggered tender offer for Ningbo Marine.
Ningbo Marine released tender offer report on March 5.
Source from CNSS