CP Ships Denies Reports of Acquisition
CP Ships Limited announced that it does not intend to acquire Kien Hung.
Growth through selective acquisition is a well-known element of CP
Ships' overall business strategy. Therefore, at any given time a
number of possible transactions are likely to be under consideration
and there is on occasion rumor of its possible interest in particular
As a matter of policy, CP Ships does not usually comment on such
rumors or associated reports. However, in light of a number of recent
inaccurate reports of a definitive transaction between CP Ships and
Kien Hung, an exception is being made in this case.