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Sea-Land To Get $97 Million for 1/3 Share Of Hong Kong Terminal Company
Sea-Land Orient Ltd. has entered into an agreement to sell one-third of its terminal services company, Sea-Land Orient Terminals Ltd., to a Hong Kong consortium, Ready City Ltd., for $96.7 million. Sea-Land Orient Ltd. is a subsidiary of Sea-Land Service Inc.
The Ready City partnership is led by New World Development Co. Ltd. and includes Sun Hung Kai Hong Kong Industries Ltd. along with other transportation industry investors. Both New World Development and Sun Hung Kai are major Hong Kong conglomerates with a broad spectrum of investments. The two companies are traded on the Hong Kong …