The Shanghai Stock Exchange has approved the merger between the China State Shipbuilding Corporation (CSSC) and the China Shipbuilding Industry Corporation (CSIC), paving the way for the creation of the world’s largest shipbuilding conglomerate.
Under the terms of the deal, CSSC will issue new Class A shares to CSIC shareholders. The transaction is valued at 115.2 billion yuan (approximately $16 billion), exceeding half of each company’s total assets.
Following the merger, CSIC will be delisted from the exchange, and CSSC will absorb all of its assets, liabilities, contracts, and employees. According to maritime analytics firm Alphaliner, the combined entity will become the world’s largest shipbuilding company, with assets of around 400 billion yuan ($56 billion) and annual revenue of approximately 130 billion yuan ($18 billion)
This merger will strengthen China’s position in the global shipbuilding market, allowing the combined company to compete more effectively on the international stage and implement large-scale maritime projects.
