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Caixin Global
Caixin Global
Business
Li Rongqian and Wang Xintong

China Merchants Group Pushes Forward Plan to Consolidate Cargo Operations

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What’s new: China Merchants Group Ltd. (CMG) is pushing ahead with a major restructuring as the state-owned conglomerate moves to consolidate its container line operations amid a global shipping boom.

Antong Holdings Co. Ltd. (600179.SH) plans to issue shares to China Merchants Energy Shipping Co. Ltd. (601872.SH) to buy the latter’s 100% stake in a container liner and 70% stake in a ro-ro shipping company, according to a stock exchange filing dated Thursday.

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