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Singamas to sell dry box business to Cosco Shipping

Singamas, a subsidiary of Singapore-based shipping line Pacific International Lines, has said about $300m of the net proceeds from the sale would be used to repay bank loans, while $100m will be given out as a special dividend

China-based box maker is to sell the majority of its assets to the state giant for about $565m, a 4.4% premium over book value

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