Infrastructure giant China Communication Construction Group (CCCG) is buying a 30% share in crane maker and shipowner Shanghai Zhenhua Heavy Industries (ZPMC ) from its publicly listed subsidiary.
The transaction will see Hong Kong listed China Communication Construction Co (CCCC) pocket some CNY 5.715 ($845m) from its directly state owned parent CCCG.
Until this week stocklisted CCCC two subsidiaries held directly or indirectly a 29.99%
