February 10, 2010
OOIL announces completion of OODL sale
Orient Overseas (International) Ltd (OOIL) is pleased to announce that the completion of the sale of its property development subsidiary, Orient Overseas Development Ltd (OODL), took place on 10 February 2010.
Upon the Completion of the Transaction, the Company ceased to hold any interest in the OODL Group, and the OODL Group of companies ceased to be subsidiaries of the Company.
About Orient Overseas (International) Limited
Headquartered in Hong Kong, the core business of OOIL is in container liner business operated by Orient Overseas Container Line (OOCL), a wholly owned subsidiary. OOCL is one of the world's leading container transport and logistics services providers with more than 230 offices in 58 countries. Linking Asia, Europe, North America, the Mediterranean, the Indian sub-continent, the Middle East and Australia/New Zealand, OOCL offers transportation services to all major east/west trading economies of the world. OOCL is one of the leading international carriers serving China, providing a full range of logistics and transportation services throughout the country. It is also an industry leader in the use of information technology and e-commerce to manage the entire cargo process.
