Cosco Shipping International is moving further into logistics with a SGD 490m ($359) takeover bid for Cogent Holdings.
The Chinese shipowner has offered SGD 1.02 per share for the fellow Singapore-listed logistics company.
Four shareholders controlling some 84.3% of Cogent Holdings have given an irrevocable underrating to accept Cosco’s offer.
They are Cogent’s executive chairman and his wife, as well as the company’s chief executive and the managing director.
