COSCO Pacific disposes shares in Hong Kong bank

COSCO Pacific disposes shares in Hong Kong bank COSCO Pacific Ltd., which has interests in the terminal, container leasing, and logistics businesses, said it has disposed of a shareholding interest in Hong Kong-based Chong Hing Bank Ltd.
   COSCO Pacific said it would realize an estimated net gain on disposal of the interest of about $89.9 million. The company plans to use the funds for investment in new or existing terminals.