News / Shipping-aviation split widens as EMC sells more EVA Air shares

The split between Evergreen Group’s shipping and aviation businesses gained momentum this week as Evergreen Marine Corp (EMC) announced it would sell 50 million of its shares in affiliate EVA Airways for $53m.

EMC, the listed part of the group’s shipping operations, has 726,541,111 shares in EVA, a 13.46% stake; selling 50m shares would reduce its stake to 12.53%.

Taiwanese media has identified the buyer as Chang Kuo-cheng, third son of Evergreen founder Chang Yung-fa, who died in 2016.

Dr Chang’s four sons ...