Cosco Shipping and SIPG acquired OOIL

COSCO SHIPPING Holdings Co. Ltd., a majority owned subsidiary of China COSCO SHIPPING Corporation Ltd, Shanghai International Port (Group) Co., Ltd and Orient Overseas (International) Limited jointly announced that COSCO SHIPPING Holdings and SIPG have made a pre-conditional voluntary general offer to all shareholders of OOIL to acquire all issued OOIL shares at an offer price of HK$78.67 in cash. On completion, assuming all OOIL shareholders tender their shares, COSCO SHIPPING Holdings will hold 90.1%, while SIPG will hold 9.9% of OOIL.