The shipping conglomerate China Cosco has gone through several major rounds of asset divestments in 2013 in the hopes of maintaining the company's listing on the Shanghai Stock Exchange. The buyer of the profitable assets is parent company Cosco Group, which is now ready to buy up assets from its subsidiary for the third time this year, in a scheme that, according to Alphaliner, means that China Cosco benefits from the divestments.
At the end of August, the company published a financial report for the 1st half of the year showing a deficit of USD 126 million. The company achieved a deficit five times bigger than that in the same period 2012, but if China Cosco fails to produce a positive result by the end of the year the company will be delisted from the Shanghai Stock Exchange.
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