A leading US logistics company appears to be moving forward with plans to purchase Longhe Ship Management from Qingdao Zhenghe Shipping.
In a statement Sino-Global Shipping America said it has signed a non-binding acquisition proposal to buy the firm from the diversified Chinese operator but offered few details.
“The exact terms and conditions of the planned acquisition have not been determined and are subject to further negotiation between the two parties as well as review and approval of Sino-Global's board of directors,” it told investors Tuesday.
Sino-Global
