EXEL TO INVEST $10 MILLION IN SINOTRANS STOCK

EXEL TO INVEST $10 MILLION IN SINOTRANS STOCK    Exel, the major U.K.-based logistics service group, will buy $10 million worth of shares in Sinotrans when China’s largest forwarding group joins the stock market in the next few weeks.
   Exel, which has a joint venture in China with Sinotrans, has agreed to subscribe for $10 million in “H” Shares of Sinotrans Ltd. when the Chinese company initiates its international offering to strategic and international investors, alongside its public offering in Hong Kong.
   Exel operates in China as Exel-Sinotrans, a joint venture formed in 1996 that now has 1,200 employees in 15 cities.
   As a strategic investor, Exel appoint one of the directors of Sinotrans.
   Other major forwarding and transport groups are reportedly also bidding to acquire a shareholding in Sinotrans.