CORRECTION: OOCL: Sale hones focus on liner
CORRECTION: OOCL: Sale hones focus on liner
A Jan. 22 story on OOIL’s sale of its property division incorrectly stated what the company plans to do with the cash from the sale. A statement from Stanley Shen, director of investors relations for OOIL (parent company of liner carrier OOCL), said, 'I don't want to speculate too soon what we'll do with the cash.” That statement referred to the entire $2.2 billion OOIL made in the deal for all but two assets in its property division. No decision has yet been made about whether the company will use any of the cash from the sale for shareholder dividends.