Cosco Shipping Holdings' (HKG:1919, SHA:601919) subsidiary Cosco Shipping Lines agreed to purchase 12% of the equity interests in Cosco Shipping Logistics and Supply Chain Management for 2.14 billion yuan, a Friday Hong Kong bourse filing said.
The seller is the indirect controlling shareholder of the company, China Cosco Shipping.
After the completion, Cosco Shipping Lines will hold 19% of the equity interests in the target and will pay the acquisition consideration through its own funds.
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