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Chinese shipping investor moves to take control of asphalt tanker owner Xin Yuan
Liu Jichun's Ocean Vivo has made a voluntary conditional cash offer of HK$2.21 per share for the Xin Yuan Enterprises stock it does not already own, in a takeover worth up to HK$771m ($99m).
Chinese shipping entrepreneur Liu Jichun is seeking control of Hong Kong-listed asphalt tanker operator Xin Yuan Enterprises. His investment vehicle Ocean Vivo has announced a voluntary conditional offer of HK$2.21 per share for the stock it does not already own.
The proposed cash takeover is worth up to HK$771m ($99m). The offer is aimed at giving Liu control of the company.
Xin Yuan's shares are listed in Hong Kong, and the company operates asphalt tankers.
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