Tianjin Port Co., Ltd. (SHSE:600717) entered into an asset purchase agreement to acquire additional 20% minority stake in Tianjin Port Alliance International Container Terminal Co., Ltd. from OOCL Terminal (Tianjin) Ltd. for approximately CNY 170 million on December 20, 2021. The consideration shall be paid within 15 business days after the Acquisition Completion Date. The consideration will be funded by internal resources of Tianjin Port Development Holdings Limited. For the year ended on December 31, 2020, reported net profit after tax of CNY 104.08 million and Net assets of CNY 1.5 billion. The transaction is subject to Equity Transfer Agreement having become effective, representations and warranties of the parties in the Equity Transfer Agreement remaining true, accurate and complete, Antitrust approval, there having been no material adverse impact on Tianjin Port Alliance International Container Terminal during the transaction, OOCL Terminal Tianjin having made arrangements for the resignation of the director(s) and company secretary of Tianjin Port Alliance International Container Terminal and the directors and the senior management personnel (if any) appointed by Tianjin Port Alliance International Container Terminal Co., Ltd. to Alliance International, such resignations shall be effective on the Acquisition Completion Date and lenders and creditors approval. China Tong Cheng Assets Appraisal Co., Ltd. acted as valuer on the transaction.