Cosco Shipping Singapore will be sold to Cosco (HK) Shipping, a wholly-owned subsidiary of Cosco Shipping Bulk, which is in turn wholly-owned by China Cosco Shipping Corporation.
Logistics management service provider Cosco Shipping International has proposed the disposal of a 60% stake in Cosco Shipping Singapore for US$42.4 million ($57.01 million) in an interested party transaction.
Cosco Shipping International holds all the issued shares in Cosco Singapore which is in the business of dry bulk shipping.
