Invest
China Merchant Pacific (CMHP) to acquire Jiurui Expressway
By Investment Moats  •  December 13, 2012
China Merchant Pacific (CMHP) to acquire Jiurui Expressway 3576710825 d4199e11fc On the back of a fully debt funded acquisition of Beilun expressway and a 1.25% convertible bond issue, China Merchant Pacific (CMHP) announces that they will be purchasing a new expressway. This expressway is newly built and is loss making due to high financing costs. Concession life span at least 21 years. The acquisition will extend the concession life of portfolio from 13 years to 15 years. CMHP will be divesting their New Zealand property business to the sellers, in addition to issuing 72.66 mil additional CMHP shares at SGD $0.84 and RMB $75 mil to the sellers. The placement look to be worth SGD $61 mil/RMB $ 312 mil/HKD $ 387 mil. Compare to Beilun, which is likely to be purchased for a minimum of RMB $890 mil, this seem to be valuing the New Zealand property business to be less ......
Read the full article
By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance