Sunday, June 22, 2025
Home News COSCO pays over US$800 million for minority stake in COFCO Fortune

COSCO pays over US$800 million for minority stake in COFCO Fortune

COSCO Shipping Holdings has agreed to acquire a 5.8% stake in COFCO Fortune, a food processing and transportation subsidiary of the Chinese state agricultural conglomerate COFCO, for US$814 million.

The transaction is part of a COFCO Fortune capital enhancement strategy, according to a recent stock exchange filing by COSCO SHIPPING Holdings.

Meanwhile, COFCO and other parts of the company will maintain a combined 69.8% ownership in COFCO Fortune following the conclusion of the capital raising transaction, down from 89.7% earlier.

COSCO SHIPPING Holdings and COFCO Fortune are expected to explore operations involving resources such as container yards, warehouses, and terminal ports.

Several state-linked companies, including the management council of China’s basic pension insurance fund and the asset management arm of China Life Insurance, have also participated in COFCO Fortune’s capital increase. Additionally, Houke Fulin, a fund affiliated with private equity company Hopu Investments, seems to have been involved in the move.





Latest Posts

We Asked AI: Container Ships in Ancient Worlds

Container Ships in Ancient Worlds Imagine a colossal container ship gliding through the Nile as pyramids rise in the distance, or docking at a bustling...

Scenario planning for Mediterranean ports growth amid ongoing tensions

The sustained growth of Mediterranean port traffic, driven by increased Asia-Europe trade and the Red Sea crisis, presents a dynamic landscape for global shipping. Assuming...

Thessaloniki port Revival: Balkan gateway reawakens

 For decades, Thessaloniki was a port with strategic promise but structural limitations, ideally located at the crossroads of Europe and the Balkans, yet constrained...

Vigor Marine Group’s consolidation signals US push to counter China’s shipbuilding dominance

In a bold move to strengthen America’s maritime capabilities, five leading US ship repair and marine service providers have united under a single banner. This...

AI reshape shipping operations

The integration of artificial intelligence into shipping operations, is poised to transform competition in the maritime industry by enhancing efficiency, safety, and sustainability while...
error: Content is protected !!