By Clement Tan (Bloomberg) -- China has approved another strategic restructuring of two state-owned shipping-related conglomerates, the second such move this month as the government steps up efforts to shrink industries plagued by overcapacity and create globally competitive businesses. Sinotrans & CSC Holdings Co. will become a wholly owned subsidiary of China … [Read more...]
China Merchants in Talks to Acquire Sinotrans & CSC-Caixin
SHANGHAI, Nov 17 (Reuters) - Chinese transport conglomerate China Merchants Group is in talks to acquire logistics group Sinotrans & CSC in the latest deal in the country's state sector, financial magazine Caixin reported late on Monday. The two companies have been locked in reorganization talks, Caixin said, citing sources close to China Merchants. Officials from … [Read more...]