Singapore to make huge cash injection in PIL and dilute the ownership

The Singapore state is prepared to inject USD 600 million in struggling container line PIL. This will dilute the owner's, the Teo family, stake to less than 15 percent, but it could well be a last resort, says the company ahead of a decisive meeting.

Photo: PR / Pacific International Lines

Container shipping company Pacific International Lines, PIL, is in such a dire state that the company will soon only have one last resort left, says the company in a presentation ahead of a decisive meeting.

Here creditors will decide on the restructuring deal PIL needs in order to ensure its survival.

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