Beibu Gulf Port Co., Ltd. (SZSE:000582) agreed to acquire 78% stake in AKR (Guigang) Transshipment Port Co., Ltd. from PT AKR Corporindo Tbk (IDX:AKRA) for approximately CNY 170 million on September 21, 2017. Share transfer agreement will be signed on September 22, 2017. In related transaction, Beibu Gulf Port Co., Ltd. agreed to acquire AKR (Guigang) Port Co., Ltd. and Guangxi (Guigang) Akrcontainer Port Co., Ltd. Beibu Gulf Port Co., Ltd. will use bank special acquisition loans to finance the transaction.

As of December 31, 2016, AKR (Guigang) Transshipment Port Co., Ltd. reported total assets of CNY 317.12 million and net assets of CNY 125.32 million. For the year ended December 31, 2016, AKR (Guigang) Transshipment Port Co., Ltd. reported revenue of CNY 17.26 million, operating loss of CNY 17.2 million and net loss of CNY 17.29 million. On September 21, 2017, the 42nd session of Beibu Gulf Port Co., Ltd.'s 7th directorate approved the transaction.

Beibu Gulf Port Co., Ltd. (SZSE:000582) completed the acquisition of 78% stake in AKR (Guigang) Transshipment Port Co., Ltd. from PT AKR Corporindo Tbk (IDX:AKRA) on January 15, 2018. The consideration was paid in cash. Ruihua Certified Public Accountants (Special General Partnership) acted as accountant in the deal.