China's Sinochem seeking to sell logistics unit for 3.5b yuan
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Hong Kong
SINOCHEM International Corp said it has put up its logistics unit for sale by public auction, aiming to raise about 3.5 billion yuan (S$713 million) - part of the Sinochem conglomerate's efforts to respond to Beijing's push for a slimmer state sector.
Bidders for Sinochem International Logistics - also China's largest liquid chemicals vessel owner with nearly 80 tankers - include a consortium comprising Ordos City Junzheng Energy & Chemical Co Ltd and two other firms, the logistics firm's parent company said in a filing late on Monday.
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