COSCO Pacific plans to raise a total of US$241.2 million through the sale of containers in separate deals with three of the shipping group's units that operate under the name, Florens.
The proceeds from the sale will be used as working capital and for future investment opportunities that may arise, a report by XFN-ASIA said.
Under the terms of the three deals, Cosco's wholly-owned unit Florens Maritime will sell containers worth $68.7 million, Florens Management Services (Macao Commercial Offshore) Ltd will sell $126 million in containers and Florens Container Inc will sell boxes worth $46.5 million.
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