Independent journal on economy and transport policy
18:40 GMT+1
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COSCO Pacific will yield own quota in the producer of container CIMC to group leader COSCO
the participation will be sold for 1,22 billion dollars
May 21, 2013
Chinese COSCO Pacific will yield the own entire participation in China International Marine Containers (Group) Co. (CIMC), company world leader in the field of the container production intermodal, to its group leader Lower Ocean Shipping (Group) Co. (COSCO), the Chinese shipowning group that stops 42.71% of the COSCO Pacific through the branch Lowers COSCO Holdings Co. (of which it possesses 52.8% of the capital).
The quota CIMC in the hands of COSCO Pacific is pairs to 21.80% of the capital stock and is stopped through the COSCO Container Industries Ltd. (whose main asset is constituted by this participation). The quota will be sold for about 1,22 billion dollars cash the Long Honour Investments Ltd., society with center in the Islands Virgos that integrally are controlled by the COSCO (Hong Kong) Group and that currently it possesses about 0.95% of the capital stock of CIMC. To conclusion of the transaction Long Honour Investments it will stop 22.75% about of CIMC.
COSCO Pacific is the terminalista society of group COSCO and manages container terminal in many Chinese ports as well as in the port of Singapore (COSCO-PSA Terminal), in Egypt to Port Saïd (Suez Canal Container Terminal) and in Europe in the ports of the Pireo (Piraeus Container Terminal) and of Antwerp (Antwerp Gateway). In the first three months of the 2013 harbour terminal of the society they have enlivened altogether a containerized trade pairs to 14.147.893 teu, with an increment of 10.7% on the first trimester last year ( on 26 April 2013), and in the entire the 2012 they have enlivened a traffic of the container pairs to 55.685.700 teu, in increase of 9.8% on the year precedence ( on 15 January 2013). Moreover COSCO Pacific work in the section of the chartering of container through the society integrally controlled Florens Container Holdings Ltd. and its branches.
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Chinese COSCO Pacific will yield the own entire participation in China International Marine Containers (Group) Co. (CIMC), company world leader in the field of the container production intermodal, to its group leader Lower Ocean Shipping (Group) Co. (COSCO), the Chinese shipowning group that stops 42.71% of the COSCO Pacific through the branch Lowers COSCO Holdings Co. (of which it possesses 52.8% of the capital).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
