Dr. Wang Hong, Executive Vice President of China Merchants Group (“CMG”) and the Chairman of Sinotrans Ltd. (“Sinotrans”) have announced that the restructuring of state-owned enterprises mixed ownership reform for China Merchant Loscam has successfully been completed with the introduction of two new strategic shareholders, CITIC Capital Holdings Ltd. (“CITIC Capital”) and FountainVest Partners (“FountainVest”).
CMG fully acquired Loscam in 2010 and has since seen Loscam successfully grow to become Asia-Pacific’s largest pallet pooling company. This latest announcement is another major strategic decision to further strengthen the ownership structure of Loscam and drive the business to further success. The new investors bring new sector expertise which will further support the company’s long-term expansion plans. After the introduction of the two new investors, Sinotrans continues to remain as the major shareholder of Loscam.
At the officiating ceremony, all three shareholders expressed their confidence in the growth potential of Loscam and their trust in the management team. The company’s daily operations will remain unchanged and will be supported by the new board of directors. The management of Loscam are excited with the new ownership structure and the experience, diversity and extensive financial management knowledge they bring to Loscam. These along with the extensive resources in both domestic and global regions will be key to allowing Loscam to further capitalize and expand on its footprint and services.
Mr. Yichen ZHANG, Chairman and CEO of CITIC Capital Holdings Ltd., Mr. Frank TANG, Chairman and CEO of FountainVest Partners, Mr. Sirin LIMPAITOON, President of China Merchants Loscam, and other leaders attended the ceremony.
About Sinotrans Limited
Sinotrans was incorporated on 20 November 2002 and listed in Hong Kong Stock Exchange in 2003 (H00598). As the second-tier subsidiary and single logistics platform for CMG. Sinotrans’ network covers all parts of China and five continents of the world. Sinotrans is the largest integrated logistics integrator in China, and is a national 5A comprehensive logistics enterprise. Sinotrans has formed its three main business segments including agency and related business, supply chain logistics and e-business, which can provide end-to-end supply chain solutions and one-stop services.
For more information, please visit http://www.sinotrans.com/
About CITIC Capital Holdings Limited
Founded in 2002, CITIC Capital is an alternative investment management and advisory company. The firm manages over USD25 billion of capital across 100 funds and investment products through its multi-asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 160 portfolio companies that span 11 sectors and employ over 830,000 people around the world.
For more information, please visit www.citiccapital.com
About FountainVest Partners
FountainVest is a leading private equity firm investing in companies that benefit from China’s growth, now managing total assets over US$4.5 billion. Their generalist fund that invests across sectors in areas of healthcare, consumer retail, media & entertainment and lifestyle. Their deal types are both control and growth capital oriented, with a high operational focus and a dedicated portfolio management team.
For more information, please visit http://www.fountainvest.com