Sime Darby divesting Weifang Port companies for RM1.27bil

KUALA LUMPUR: Sime Darby Bhd is exiting the non-core ports business by divesting the entire equity interest in its Weifang Port companies for 1.92 billion yuan (about RM1.27 billion).

Indirect wholly-owned subsidiary Sime Darby Overseas (HK) Ltd (SDOHK) has signed agreements to sell its stakes in the eight entities to SPG Bohaiwan Port Group Co Ltd, which is part of state-owned enterprise Shandong Port Group Co.