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LBC Sells Shanghai Stake to Cosco

04:15 EDT 10 Jul 2019 | CHEManager

Belgian storage operator LBC Tank Terminals has sold its 70% share in its joint-venture Shanghai terminal to partner Cosco Shipping, a Chinese state-owned shipping and logistics services company. The deal was effective from Jun. 12, 2019. Financial terms were not disclosed. The Beijing-based group said the acquisition forms an important part of its strategy to develop its liquid cargo storage business and create synergies with its shipping operations.

Original Article: LBC Sells Shanghai Stake to Cosco

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