Report: COSCO’s OOCL Acquisition to Be Finalized

The proposed takeover of Orient Overseas Container Lines (OOCL) by COSCO Shipping is expected to be completed by June 30, Reuters reported citing COSCO’s vice chairman as saying. 
As informed by Huang Xiaowen, the company’s vice chairman, COSCO is in the process of answering questions on the acquisition from the Committee on Foreign Investment in the United States.
The company also needs to get a number of domestic approvals to proceed with the planned acquisition.

In 2017, COSCO Shipping Holdings and Shanghai International Port Group (SIPG) made an offer to buy all issued shares of Orient Overseas International Lines (OOIL), the parent company of OOCL. The offer, made to the shareholders of OOIL, is worth USD 6.3 billion.
Once the transaction is completed, COSCO would hold 90.1% of OOIL, thus becoming the world’s third-largest container carrier. COSCO would have a combined fleet of 400 vessels, with capacity exceeding 2.9 million TEUs including orderbook, pushing CMA CGM from its spot, Drewry said last year.

The acquisition has been approved so far by COSCO’s shareholders, China State‑owned Assets Supervision and Administration Commission (SASAC), the US and the EU regulators.
 
據路透社引中遠集團副董事長的話,中遠航運擬收購東方海外集裝箱(OOCL)預計將於6月30日前完成收購。 
根據公司副董事長黃小文的通知,中遠集團正在回答有關美國外商投資委員會收購的問題。
該公司還需要獲得許多國內批准才能進行計劃收購。

2017年,中遠船務控股和上海國際港務集團(SIPG)提出收購東方海外母公司東方海外國際(OOIL)的全部已發行股份。向OOIL股東提供的報價價值63億美元。
交易完成後,中遠將持有東方海外90.1%的股份,成為世界第三大集裝箱航運公司。Drewry去年表示,中遠集團將擁有400艘船隊的聯合艦隊,裝載能力超過290萬標準箱(包括訂單),將CMA CGM 陷入困境。

此次收購已被中遠集團  股東,中國國有資產監督管理委員會(SASAC),美國歐盟監管機構批准。


Imformation Source: World Maritime News , Image Courtesy: Marine Insight