China Ocean Shipping Company (COSCO) subsidiary Cosco Shipping Ports has signed an agreement with Shanghai International Port Group (SIPG) for the sale and purchase of its port assets.
In a regulatory disclosure to Hong Kong Stock Exchange (HKEX), Cosco Shipping Ports said that it will sell its indirect stakes in Nanjing Longtan Terminal, Yangzhou Yuanyang Terminal and Zhangjiagang Terminal in a transaction valued at around RMB1.06bn ($150m).
The company said: “Cosco Shipping Ports will cease to...
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