Friday, 20 October 2017 12:57

Cosco shareholders support OOCL takeover

481 oocl

Shareholders of Cosco Shipping Holdings have approved the $6.3 billion takeover of Orient Overseas (International) Ltd, the Hong Kong-listed parent company of OOCL.  With this acquisition Cosco-OOCL will become the world's third largest container line, although it was earlier indicated that they would maintain their own brand.  The combined company will operate more than 400 vessels with capacity exceeing 2.9 million TEUs, including order book.  A number of regulatory approvals are required before the deal is finalized.

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