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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Temasek-controlled NOL sells $1.2b APL

Posted on 18 February 2015

Neptune Orient Lines Ltd. is selling its profitable logistics business to a Japanese logistics-service provider for $1.2 billion, as the Singaporean firm narrows its focus on its struggling container-shipping business.
Neptune Orient Lines, or NOL, which is 65% owned by Singapore state-investment company Temasek Holdings Pte. Ltd., said it has agreed to sell APL Logistics Ltd. to Kintetsu World Express Inc., a company involved in air and ocean freight forwarding………………………………………..Full Article: Source


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