Cosco, China Merchants get nod to buy Taiwan terminal stake
Published on Dec 19, 2012 3:20 PM
TAIPEI (REUTERS) - Taiwan's investment committee has approved China's investment of US$135 million (S$165 million) to take a 30 per cent stake in a container terminal owned and operated by Yang Ming Marine Transport, two sources with direct knowledge of the deal said on Wednesday.
This will be China's biggest investment in Taiwan and the first in the island's port facility.
Cosco Pacific, China Merchants Holdings (International) and China Shipping Terminal will form a company to hold the 30 per cent stake, said the sources, who declined to named because they were not authorised to talk to the media.
Yang Ming said Taiwan's investment committee was holding a meeting on Wednesday and the company was still waiting for the result.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here