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

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).

Buyer is China's new state fund Mixed Ownership Reform Fund.

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