Shanghai: China Shipping Container Lines (CSCL) has announced that the board has agreed to establish a South American holding company in Sao Paulo, Brazil.
CSCL and CSCL (Hong Kong) will together invest US$2.5m to get 95% and 5% stake in the company respectively.
In the meantime, CSCL (Hong Kong) has decided to borrow US$150m from China Construction Bank’s Hong Kong branch and CSCL will provide a guarantee for the loan. [20/12/12]
