COSCO SHIPPING Ports (HK:1199) has released an update.
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COSCO SHIPPING Ports has entered a deal after market hours on August 29, 2024, to sell a 20% stake in its Tianjin subsidiary for US$49.29 million, with COSCO retaining an 80% share post-transaction. The disposal is a connected transaction with OOIL’s subsidiary as the buyer, and is subject to reporting and announcement obligations, but exempt from certain shareholder requirements. Investors are advised to be cautious as the completion of the deal is pending and not guaranteed.
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