Chu Kong Shipping takes stake in New World First Ferry

Chu Kong Shipping (0560) announced it will acquire a 60 percent stake in New World First Ferry Services from NWS (0659), at a consideration of HK$232.8 million.

Once the transaction is completed, the target company will be held as to 60 percent and 40 percent by Chu Kong Shipping and the NWS, respectively. New World First Ferry Services will become a direct non-wholly owned subsidiary of the group.

New World First Ferry Services operates harbour ferries and outlying island routes.