Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Qingdao Port International Co., Ltd. (‘Qingdao Port’) as COSCO SHIPPING Ports Limited (‘COSCO SHIPPING Ports’) acquires a stake in its PRC domestic  shares, worth approximately US$840m.

Qingdao Port is the primary operator of the Port of Qingdao, one of the world’s largest comprehensive ports and the sixth busiest port in China. COSCO SHIPPING Ports is a shipping company owned by one of the largest integrated shipping enterprises in the world, China COSCO Shipping Corporation Limited.

Approximately US$463m of the deal will be settled in equity, with the transfer of a 20% equity stake in Qingdao Qianwan Container Terminal Co., Ltd. to Qingdao Port, and the remainder will be settled in cash.

Freshfields will also advise Qingdao Port on its proposed placing of a maximum of 243,000,000 H shares.

The Freshfields team was led by partner Richard Wang.