COSCO Shipping, with harbour group SIPG, has introduced an offer of the value of 6,3 billion dollars in order to acquire the OOIL



COSCO Shipping Holdings Co., holding of the Chinese shipowning society Lowers COSCO Shipping Corporation, and the harbour group Chinese Shanghai International Port (Group) Co. (SIPG) have introduced an offer in order to acquire the entire capital stock of the Orient Overseas (International) Limited (OOIL), the group of Hong Kong who is active mainly in the field of the containerized marine transport with the company of navigation Orient Overseas Container Linens (OOCL) and in the correlated segments of the logistics of the container with the OOCL Logistics and of the terminalistiche activities with the container management terminal in the American port of Long Beach and that taiwanese of Kaohsiung.

The purchase price proposed from COSCO Shipping and SIPG is pairs to 78,67 dollars of Hong Kong cash for each of the almost 626 million actions of the OOIL, for a total pairs to 49,2 billion dollars of Hong Kong (USA 6,3 billion dollars). The price of closing of last Friday of the actions of the OOIL quoted to the Stock exchange of Hong Kong was pairs to 57,10 dollars of Hong Kong.

To conclusion of the offer, if all the shareholders of the OOIL will yield the respective share quotas in they possession, COSCO Shipping will stop 90.1% of the capital of the remaining OOIL and SIPG 9.9%.

The shareholders of control of the OOIL, than together stop 68.7% of the capital stock of the group of Hong Kong, have engaged themselves irrevocably to accept the offer, proposal that is subject to the satisfaction of some conditions between which the approval of the competent authorities and the green light by the shareholders of the COSCO Shipping Holdings.

If the acquisition project will succeed, OOIL will continue to being quoted to the Stock exchange of Hong Kong, the dependent number of the group will remain unchanged in order at least 24 months after the conclusion of the takeover and the society will maintain to own presence to enclosed Hong Kong the headquarters of the group.

OOCL work a fleet of beyond 100 portacontainer, of which beyond the half of property, for a total cargo ability pairs to 650 thousand teu. Last year the ships of the company of Hong Kong have transported containerized volumes for a total of 6,1 million teu. The fleet in the segment of the containerized transport of group COSCO Shipping is constituted gives beyond 300 ships, of which little more than a quarter than property, for a cargo ability than more 1,8 million teu. In the 2016 fleet of full hand container of the COSCO Shipping it has transported 16,9 million teu. With the acquisition of the OOIL group COSCO Shipping, included the portacontainer of which already the construction is ordered, would have a fleet of beyond 400 portacontenitori for an ability to beyond 2,9 million teu.

With the takeover on OOIL, group COSCO Shipping it would go up behind of a step in the ranking of the main world-wide containerized companies of navigation exceeding the French CMA CGM and placing to the third party place of the Helvetian Mediterranean Shipping Company (MSC) and of the world leader, the Danish Maersk Line.

COSCO Shipping, SIPG and OOIL have specified that, if the transaction will be capacity to term with success, COSCO Shipping Lines, the new brand to which is under responsibility the containerized marine services of group COSCO Shipping, and OOIL will continue to operate maintaining the current respective brands.