Cosco to sell its stake in Eastern Logistics
COSCO has put up its 29.7% stake in Shanghai Eastern Logistics on the Shanghai United Assets and Equity Exchange for sell. If the stake transfer is successful, Cosco Group will completely withdraw from the logistics company, SinoShipNews reports.
Meanwhile, another shareholder of Eastern Logistics, China Cargo Airlines, also plans to sell its 1% stake in the company.
The estimated stakes transfer value for Cosco and China Cargo Airlines are RMB562m and RMB18.93m.