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Article: COSCO SELLING 20% STAKE IN ICBC CREDIT SUISSE

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AsiaInfo Services
Article date:
October 9, 2009
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AsiaInfo Services
10-09-2009
COSCO Selling 20% Stake in ICBC Credit Suisse

SHANGHAI, Oct 09, 2009 (SinoCast Daily Business Beat via COMTEX) -- China Ocean Shipping (Group) Co. (COSCO) put a 20 percent stake in ICBC Credit Suisse Asset Management Co., Ltd. up for sale at the Shanghai United Assets & Equity Exchange for CNY 258.2 million on September 29.

The deadline is November 3. Industrial and Commercial Bank of China (ICBC, SHSE: 601398, and SEHK: 1398), controlling shareholder of ICBC Credit Suisse, is likely to acquire the stake, said industry experts. The biggest Chinese commercial lender is not only qualified in terms of rules the vendor worked out for the sale but also owns the ...

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