17.07.2015 - Temasek seek buyers for shipper Neptune Orient Lines
Singapore state investor Temasek Holdings has put shipping company Neptune Orient Lines Ltd , which has a market value of $1.7 billion, up for sale, people familiar with the matter told Reuters. Temasek has hired a bank to seek buyers for the business which made a net loss in five of the past six years, the sources said, as the fund with $197 billion under management seeks to boost its performance by shedding underperforming companies. The sale of the business was widely expected, especially after Neptune, nearly 67 percent-owned by Temasek, sold its logistics business to Japanese freight carrier Kintetsu World Express Inc for $1.2 billion...............................................Full Article: Source
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