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China : CMB FINANCIAL LEASING buys 4 tankers from NANJING YANGYANG for RMB200 MILLION.

Nanjing Yangyang Chemical, a wholly-owned subsidiary of Nanjing Tanker has inked a sale and leaseback deal with CMB Financial Leasing.

As per the deal, CMB will buy four Yangyang's chemical tankers for RMB200 million. While Yangyang Chemical will lease them back for eight years and will also have rights to buy them back at a nominal price after clearing the payment at the expiration date of the leasing contract.

In the deal, Nanjing Tanker will provide guarantees.

Meanwhile, Nanjing Tanker also stated that it will suspend the trading of it shares if it suffers losses in the 2012 final results.

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Publication:Mena Report
Date:Mar 4, 2013
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