SINGAPORE sovereign wealth fund Temasek Holdings has put up its struggling US$1.7 billion shipping company for sale, the Wall Street Journal reported, citing people familiar with the matter.
Owner of container line APL, Neptune Orient Lines (NOL), is 65 per cent-owned by Temasek.
In February, Temasek announced the sale of its logistics business to Japanese freight carrier Kintetsu World Express Inc for $1.2 billion.
NOL's move to sell its logistics business had renewed market speculation of a sale of the entire company.
An NOL spokeswoman declined to comment, while Temasek Holdings was not immediately available after office hours. The news came on the eve of Hari Raya Haji, the celebration that marks the end of the month-long Ramadan fasting, a public holiday in Singapore.
WORLD SHIPPING
17 July 2015 - 20:29
Singapore's Temasek prepares to sell Neptune Orient Lines and APL
SINGAPORE sovereign wealth fund Temasek Holdings has put up its struggling US$1.7 billion shipping company for sale, the Wall Street Journal reported, citing people familiar with the matter.
WORLD SHIPPING
17 July 2015 - 20:29
Singapore's Temasek prepares to sell Neptune Orient Lines and APL
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