SOURCE / COMPANIES
US questions COSCO cargo takeover
Published: Apr 22, 2018 07:58 PM
A US national security review has raised concerns about a takeover by China's COSCO Shipping Holdings Co of a large container terminal in California, the Wall Street Journal reported.

The terminal is part of COSCO's planned $6.3 billion deal to buy shipping firm Orient Overseas International Ltd (OOIL), the newspaper said.

COSCO executives met with officials at the Committee on Foreign Investment in the US last week and proposed to divest or carve out the terminal to ease US concerns about the deal, it continued.

The planned acquisition is on track to be completed by the end of June 2018.