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CIMC ownership shake-up on the cards as Cosco sells stake

Industry sources point to China Merchants Group as the buyer of the stake, with the aim of bringing the Chinese box maker and rig builder under its wing as part of Beijing’s push to consolidate the country’s public sector

The sale could potentially lead to the change of its largest shareholder, said Shenzhen and Hong Kong-listed CIMC, adding the deals are not yet certain and still pending regulatory approvals

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