Cosco Shipping Bids for Cogent

November 26, 2017

 Cosco Shipping International has issued formal offer documents for its S$1.02 per share bid to privatise Cogent Holdings, reported Business Times.

 
Cosco said that acceptances of the offer must be received no later than 5.30pm on Jan 5. Cosco Shipping had announced on Nov 3 that it is acquiring and privatising Cogent for S$488.07 million.
 
Cosco Shipping had announced on Nov 3 that it is acquiring Cogent for S$488.07 million. The report quoted Cosco Shipping as saying that the rationale for the acquisition is to acquire control in one of Singapore's leading full service, integrated logistics service providers with a track record of over 40 years.
 
Shipowner also announces plan to buy Indonesian shipping logistics company PT Ocean Global. Ocean Global Shipping is a company incorporated in 1994 in Jakarta, Indonesia.
 
For this purpose, Cosco Shipping International (Singapore) had entered into a non-binding MoU (Memorandum of Understanding) with vendor Cosco Shipping (South East Asia), a wholly-owned by China Cosco Shipping Corporation, in relation to the proposed acquisition of approximately 40% of the issued shares of the issued and paid-up share capital of PT., of the target company, Ocean Global Shipping.
 

Logistics News

CV International, Capes Shipping Agencies Announce New CFO

CV International, Capes Shipping Agencies Announce New CFO

Tariffs, Sanctions and Shipping Risks: The New Supply Chain Reality

Tariffs, Sanctions and Shipping Risks: The New Supply Chain Reality

German Exports Decreased in May As Companies Frontloaded in Q1 to Beat Tariffs

German Exports Decreased in May As Companies Frontloaded in Q1 to Beat Tariffs

Bunge Charters Argentine Soy Meal Cargo to China

Bunge Charters Argentine Soy Meal Cargo to China

Subscribe for Maritime Logistics Professional E‑News

Media reports claim that TSA will allow airport travelers to keep their shoes on.
Brazil's corn harvest is a challenge for the export season
Pakistan approves four bidders to take over the struggling national airline PIA