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NOL shares jump 3% on news of potential logistics unit sale

Published on Aug 20, 2014 10:22 AM
 
Exterior of Neptune Orient Lines. Shares in Singapore's Neptune Orient Lines jumped 3 per cent on Wednesday to $1.01, their highest level in more than three months, on news that it is considering selling its logistics unit. -- PHOTO: THE BUSINESS TIMES FILE

SINGAPORE (Reuters) - Shares in Singapore's Neptune Orient Lines jumped 3 per cent on Wednesday to $1.01, their highest level in more than three months, on news that it is considering selling its logistics unit.

Reuters reported earlier that NOL, a shipping and logistics company in which Singapore's state investor Temasek Holdings owns a 67 per cent stake, is hoping to sell its logistics business for more than US$750 million (S$935 million).

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