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Purchase price offers OOCL shareholders some comfort

Tuesday, July 11, 2017 - 05:50

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Cosco has agreed to pay US$6.3 billion for OOCL. Its initial bid more than six months ago hovered around US$4 billion.

THE family of former Hong Kong chief executive Tung Chee-hwa is giving up its Orient Overseas Container Line (OOCL), but the price the mainland buyer is paying offers some comfort. Cosco Shipping Holdings Co agreed to pay US$6.3 billion for OOCL, the Hong Kong container-shipping group that China

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