The $6.3bn COSCO takeover of Orient Overseas International Lines (OOIL) and its container line arm, OOCL, could be stymied at the eleventh hour by a perceived threat to US national security interests.
COSCO Shipping, set to acquire 90.1% of the shares in Hong Kong-based OOIL, said it was “on track” to complete the deal by 30 June.
However, vice-chairman Huang Xiaowen said COSCO was still answering questions from the Committee on Foreign Investment in the …
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Source: The Loadstar