Sime Darby group CEO Datuk Jeffri Salim Davidson said the agreements allowed for a staggered exit from its investment in three Jining Ports over three years and it was very much in line with its strategy to divest non-core assets of the group.
KUALA LUMPUR: Sime Darby Bhd
's unit is divesting its stakes in three joint ventures operating three river ports in Jining in the Shandong province of China for RM181.6mil as it seeks to exit its non-core assets.
It said in a statement on Tuesday Sime Darby Overseas (HK) Ltd had entered into a series of agreements with Jining Port and Shipping Development Group Co., Ltd (JPSDG) to divest its entire interest in the three JVs.
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