China Infrastructure Group, which has an 85 per cent stake in the first phase of Wuhan’s Yangluo terminal, announced via the Hong Kong Stock Exchange on Monday 11 April that it has signed a letter of intent with a potential purchaser to dispose of its entire stake.

CIG planned to have a 44 stake in the second phase to retain overall control over the terminal, but forfeited its first right of refusal when it was unable to raise funds in the marketplace and Wuhan Port Group took over as the sole owner and operator of Yangluo Phase Two. Though keen on buying the CIG stake, Wuhan Port Group confirmed that it was not the potential purchaser.