Date closed: 8/24/2018
Value: US$6.3 billion
On July 26, 2018, Cosco Shipping Holdings Co. (COSCO) completed the US$6.3 billion acquisition of the majority stake in Orient Overseas Container Lines (OOCL). COSCO now holds 90.1% of OOCL, thus becoming the world's third-largest container carrier.
The enlarged company will operate more than 400 vessels with capacity exceeding 2.9 million twenty-foot equivalent units, including order book.
BLG represented COSCO and OOCL on the Canadian aspects of the transaction with a team led by Subrata Bhattacharjee that included Denes Rothschild and Ian Li.