China’s anti-monopoly bureau has given the green light to COSCO’s $6.3bn takeover of OOIL, including its container arm, OOCL.
The stock exchange eleventh-hour notification made no reference to the outstanding approval still required by US foreign investment regulators.
A joint statement from COSCO and OOIL advised that, on 29 June, the Anti-Monopoly Bureau of the State Administration for Market Regulation of the PRC had decided “not to prohibit the offer”.
Chinese regulatory approval …
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Source: The Loadstar