Fairyoung Unit Buys China Terminal Stakes

Pacific Ports, a subsidiary of Fairyoung Holdings of Hong Kong, has acquired majority stakes in four terminal projects and a warehousing facility in China. The company is being prepared for a listing in Hong Kong to raise HK$550 million (US$70.5 million) to finance expansion plans. These include a 92 percent stake in Xiangyu Quay and a 60 percent holding in Huijian Quay – both joint ventures in Xiamen – and 55 percent stakes in terminals in Nanjing and Suzhou.

The group also has acquired all of Xiamen Warehousing and Processing Zone. All Xiamen facilities are expected to be managed by Sea-Land of the US.

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