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OOIL keeps options open on terminals sale

Article-OOIL keeps options open on terminals sale

OOIL keeps options open on terminals sale

Hong Kong: Orient Overseas (International) Ltd has issued a clarification on its
strategic review of a potential divestment of its Terminals Division
following press reports on the situation. The parent of Orient Overseas
Container Lines says its review is ongoing and there is no certainty that a
disposal will take place. The statement said it hoped to complete the
process by the end of this year. The terminals division consists of TSI
Terminal Systems Inc operating two terminals in Vancouver and Staten Island, New York, and Global Terminal in New Jersey. On July 25th OOIL announced it had engaged UBS Investment Bank to advise on the strategic review. [12/10/06]

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