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China Merchants Holdings (International) Co Ltd, Cosco Pacific Ltd To Form JV To buy into Taiwan's Kao Ming Container Terminal Corp. From Yang Ming Marine Transport Corp.-DJ


Wednesday, 19 Dec 2012 05:38am EST 

Dow Jones reported that a Chinese consortium has agreed to buy 30% of a container terminal in the Taiwanese city of Kaohsiung that is being developed by port investor Yang Ming Marine Transport Corp. for USD135 million. China Merchants Holdings (International) Co Ltd, a unit of state-owned China Merchants Group, will joint Cosco Pacific Ltd, the port investment arm of China Ocean Shipping (Group) Co., and China Shipping Terminal Development (Hong Kong) Ltd., a unit of state-owned China Shipping (Group) Co., to form a joint venture to buy into Taiwan's Kao Ming Container Terminal Corp. from Yang Ming Marine Transport. China Merchants, Cosco Pacific and China Shipping will each hold 10% in the Kaohsiung project following approval from the Chinese and Taiwan governments. If approved, the investment would be the first in a Taiwanese port by mainland Chinese entities. 

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