Vinalines to sell Hai Phong Port shares to foreign investor
(VOV) - The Prime Minister has authorised the Vietnam National Shipping Lines Corporation (Vinalines) to sell a portion of its Hai Phong Port shares to foreign investor Vietnam-Oman Investment Joint Stock Company (VOI).
According to the terms of the deal, Vinalines will be permitted to sell a minimum of 19.68% of its holdings up to a maximum 29.58%.
Vinalines currently owns 94.68% of the total outstanding shares of the port.
In other terms of the agreement, VOI must pledge to hold its shares for at least 10 years and provide technical assistance and training of human resources.
A representative from Vinalines said both sides are speeding up the necessary formalities to sign the agreement in the near future.