Sep 18, 2015 07:22 PM

Chinese Group Buys Controlling Stake in Turkish Container Terminal

(Beijing) – A consortium of state-owned enterprises has taken a controlling stake in a container terminal in Turkey for about US$ 940 million, one of the firms said on September 17, as one executive involved the deal linked it to China's "belt and road" plans.

A subsidiary of the shipping company China Ocean Shipping Co. (COSCO) called COSCO Pacific Ltd.; the shipping firm China Merchants Holdings (International) Co. Ltd.; and CIC Capital Corp., a subsidiary of the state investment firm China Investment Corp., said they made the purchase.

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