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COSCO sells logistics unit to sister company

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Tuesday, March 12, 2013

China's COSCO Group said Monday it's proposing to shuffle assets to help boost results in 2013 and reduce the risk of its stock being suspended from trading on the A-share market in Shanghai. In an announcement Monday, China COSCO Holdings Company Ltd., which is listed on both the Shanghai and Hong Kong stock exchanges, said it had "put forth a preliminary proposal" to sell a 100-percent interest in its directly-owned subsidiary COSCO Logistics Co., Ltd. (COSCO Logisti...

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