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OOIL controlling shareholder accepts Cosco offer

Cosco Shipping Holdings announced on Friday that it had received nearly 76% of OOIL’s issued shares, signalling another major step forward in the $6.3bn acquisition deal. Meanwhile, the Shanghai- and Hong Kong-listed company has proposed appointing Xu Lirong, the chairman of its parent group, to its highest job

The offer has become unconditional on the leading shareholder’s acceptance

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