Tuesday, 10 July 2018 11:26

US clears COSCO Shipping for OOCL takeover

518 COSCO Shipping

 

The U.S. Committee on Foreign Investment in the United States had notified that it does not have any outstanding security issues following an agreement with the U.S. government to divest the Long Beach container terminal business to a third party.  Cosco has said the U.S. regulator has cleared its planned takeover of the Hong Kong-based container shipping operator, after Cosco agreed to place a large container terminal in Long Beach, Calif., into a U.S.-run trust and put it up for sale.  When everything is final COSCO will hold 90.1% of OOIL.

 

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