Cosco sells major stake in Cosco Shipping Leasing to state fund

Cosco Shipping Development has announced that it has entered into an agreement with Chengtong Fund Management to sell a 35.22% stake in Cosco Shipping Leasing for a price of RMB1.8bn ($275m). Chengtong signed the agreement on behalf of Mixed Ownership Reform Fund, a fund to be established by the central government’s State-owned Assets Supervision and …

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