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Us Security Concerns Force Cosco-owned Orient Overseas To Sell Long Beach Port In California | South China Morning Post

by scmp.com posted 2months ago 185 views
A Hong Kong-based company has been forced to sell its American container port after the US government raised security concerns about its parent being a Chinese state-owned shipping giant.Orient Overseas (International), which is majority-owned by Cosco Shipping Holdings, will sell off its entire interest in Long Beach Container Terminal in California for US$1.78 billion (HK$13.97 billion) in cash, according to a stock exchange filing on Tuesday morning.The sale to a US infrastructure fund is…

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