OOIL suspends share trading, announcement of terminals sale expected
Hong Kong-based Orient Overseas (International) Ltd., parent company of ocean carrier OOCL, has suspended trading of its shares today, with an announcement expected about the sale of its North American terminal assets valued at over $1.1 billion.
OOIL’s share price has grown strongly since it said in July that it was considering a sale, closing Tuesday on the Hong Kong Stock Exchange at HK$36.95 ($4.75).
The company’s terminals assets in North America comprise TSI Terminal Systems, which operates the Deltaport and Vanterm terminal in the Canadian Port of Vancouver, New York Container Terminal on Staten Island and Global Terminal in New Jersey.
OOIL suspends share trading, announcement of terminals sale expected
