A pending $6.3bn takeover of Orient Overseas International by Cosco will add around $1bn to the wealth of Hong Kong tycoon Tung Chee-hwa and his family.
Eighty-year-old Tung’s personal wealth will jump to $2.9bn following the sale of his stake in the company, a $400m rise, according to Bloomberg.
Tung Chee Chen, the present chairman and chief executive of the container line, will be $600m better off once the Cosco cheque is banked, the newswire says.
