COSCO SHIPPING Ports (HK:1199) has released an update.
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COSCO SHIPPING Ports has entered into agreements to acquire significant minority stakes in HLT and TLT, amounting to a total consideration of approximately $110 million. These strategic investments, executed through its subsidiary SHIE, will see COSCO SHIPPING Ports owning 30% of HLT and 12.5% of TLT, enhancing its presence in terminal operations. The transactions are subject to regulatory approvals and are expected to finalize simultaneously with related ventures.
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