Latest news from Heavy Lift & Project Forwarding International Magazine

OOIL takeover approved

September 12 - Cosco Shipping Holdings and Shanghai International Port Group's (SIPG) acquisition of Orient Overseas International (OOIL) has been approved by Chinese regulators.

In a joint statement, the companies announced that China's State-owned Assets Supervision and Administration Commission (SASAC) has approved the offer to acquire all the issued OOIL shares.

As part of the pre-conditions, Cosco Shipping Holding shareholders will hold an extraordinary general meeting on October 16, 2017 to approve the proposed takeover.

As HLPFI reported here, on completion of the deal, assuming all OOIL shareholders tender their shares, Cosco Shipping Holdings, which is a majority owned subsidiary of China Cosco Shipping Corporation, will hold 90.1 percent of OOIL, while SIPG will hold the remaining 9.9 percent.

 

www.ooilgroup.com

en.chinacosco.com

www.portshanghai.com.cn/en/

Heavy Lift | News

Mammoet in Meyer takeover thumbnail image

Mammoet in Meyer takeover

May 22 - Mammoet has agreed to acquire heavy lifting, installation and assembly specialist Meyer Anlagenbau.
Views: 606
Grool appointed at Zeaborn Ship Management thumbnail image

Grool appointed at Zeaborn Ship Management

May 22 - Rob Grool has been appointed ceo of Zeaborn Ship Management. He succeeds Holger Strack, who has been acting as the company’s interim ceo since the beginning of the year.
Views: 361
Breakbulk Europe kicks off thumbnail image

Breakbulk Europe kicks off

May 21 - More than 550 exhibitors are preparing for the start of this year’s Breakbulk Europe exhibition, which kicks off later today in Bremen. 
Views: 505

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.