Singamas completes sale of dry box business to Cosco Shipping
Subsidiary of Singapore-based container shipping carrier Pacific International Lines has banked more than $500m cash from the sale to pay debts, distribute special dividend and replenish working capital. The company has now disposed most of its assets and focuses on making specialised containers
Takeover deal will make Cosco Shipping’s container making unit the world’s second-largest player in the sector, second to only China International Marine Containers (Group)
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