Sinotrans shuffles stakes
30 / 06 / 2011
CHINA’S Sinotrans Air Transportation Development has announced it will sell its 50 per cent stake in Japan’s Hankyu Hanshin Express for CNY22.05 million (US$3.4 million).
Sinotrans (right) also announced it will invest CNY50 million ($7.73 million) in a new joint venture with DHL in Zhengzhou, Henan province.
In addition, it said that the already existing joint venture between Sinotrans and DHL will sell all of its holdings in Beijing Sinotrans Express, Hong Kong Jingle Express and Shanghai Quanyi Express.