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Article: COSCO PACIFIC LOGISTICS TO SELL 49% OF COSCO LOGISTICS

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AsiaInfo Services
Article date:
September 17, 2009
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AsiaInfo Services
09-17-2009
COSCO Pacific Logistics to Sell 49% of COSCO Logistics

BEIJING, Sep 17, 2009 (SinoCast Daily Business Beat via COMTEX) -- COSCO Pacific Logistics Co., Ltd. (CP Logistics) will sell a 49% stake in COSCO Logistics Co., Ltd. to China COSCO Holdings Co., Ltd. (SHSE: 601919) for CNY 2 billion, but the seller still enjoys the profit distribution for the first nine months of 2009.

The vendor, the buyer, and the target company are all under the aegis of China Ocean Shipping (Group) Company (COSCO), a container terminal conglomerate headquartered in Beijing.

As early as 2002, China COSCO Holdings and COSCO Pacific Logistics jointly established China COSCO Holdings in ...

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