Cosco Shipping Holdings has announced that a US anti-trust review has cleared the company’s takeover of Hong Kong containerline OOCL.
Cosco said the deal is still waiting for approvals from China’s Department of Commerce and the European Union in order meet the prerequisites of the transaction.
In July, Cosco, along with port group SIPG, sealed a deal to acquire OOCL at an offer price of $10.07 per share. The acquisition will take Cosco into third place in the global container fleet rankings with a around 2.4m slots.
Last week, Cosco shareholders voted in favour of the deal at a general meeting.
No approval to be awaited from the European Commission as it is a matter of self assessment, Jason.