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Temasek to Sell Neptune Orient Lines

Maritime Activity Reports, Inc.

July 16, 2015

Singapore state investment company Temasek Holdings has put up its struggling $1.7 billion shipping company for sale, the Wall Street Journal reported, citing people familiar with the matter.

Neptune Orient Lines Ltd (NOL), 65 percent-owned by Temasek, announced in February the sale of its logistics business to Japanese freight carrier Kintetsu World Express Inc for $1.2 billion.

NOL's move to sell its logistics business had renewed market speculation of a sale of the entire company.

An NOL spokeswoman declined to comment, while Temasek Holdings was not immediately available after office hours.


Reporting by Shubhankar Chakravorty and Anshuman Daga

 

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