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AVIC International Maritime's controlling shareholder in talks for possible disposal
CATALIST-LISTED AVIC International Maritime Holdings announced on Sunday evening that its controlling shareholder, Hong Kong-listed AVIC International Holdings (AIHL), has informed AVIC International Maritime that it is in preliminary discussions with potential investors for a possible disposal of its ship business.
This potential transaction, if consummated, may include the disposal of AIHL's entire shareholding interest in AVIC International Maritime to such potential investors. AIHL directly holds 73.78 per cent stake of the shareholding interest in the capital of AVIC International Maritime.
"The discussions are on-going and no definitive agreements have been agreed upon between the parties. Further, there is no certainty or assurance whatsoever that any transaction will arise from these discussions," said AVIC International Maritime, adding that it will make the appropriate announcements where there are further material developments.
"The Board wishes to highlight that there is no certainty or assurance that (i) any definitive agreement will be entered into or (ii) the potential transaction will be proceeded with," it added, advising shareholders and potential investors to exercise extreme caution when dealing or trading in its shares.