Carriers

Cosco sells stake in leasing company to new Chinese state fund

Cosco Shipping Development sells an ownership stake of approximately 35 percent in Cosco Shipping Leasing to a new Chinese state fund, whose aim it is to reform the ownership structure of state-owned Chinese companies.
Photo: Aly Song/REUTERS / X01793
Photo: Aly Song/REUTERS / X01793
by IDHA TOFT VALEUR

Chinese financial services company Cosco Shipping Development sells a large ownership stake of 35.22 percent in Cosco Shipping Leasing, and the price for the equity totals CNY 1.8 billion (USD 275.2 million).

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