Containers from China Ocean Shipping Company (COSCO) are pictured at a port in Shanghai, China, February 17, 2016. REUTERS/Aly Song/File Photo (Reuters) - A U.S. national security review has raised concerns about a takeover by China’s COSCO Shipping Holdings Co (601919.SS) of a large container terminal in Long Beach, California, the Wall Street Journal reported on Friday. The terminal is part of COSCO’s planned $6.3 billion deal to buy shipping firm Orient Overseas International Ltd (OOIL) (0316.HK), the Journal reported, citing people familiar with the matter. COSCO executives met with officials at the Committee on Foreign Investment in the United States (CFIUS) this week and proposed to divest or carve out the Long Beach terminal to ease U.S. concerns about the deal, the report said. A spokesperson for the Treasury Department, which oversees CFIUS reviews, did not immediately reply to Reuters’ request for comment. The planned acquisition of Orient Overseas Container Line, OOIL’s main subsidiary, is on track to be completed by the end of June, COSCO Vice Chairman Huang Xiaowen said earlier this month. Reporting by Sanjana Shivdas in Bengaluru
The US government has raised national security concerns over a takeover bid of California -based shipping firm CFIUS (OOIL) by the Chinese state-owned shipping giant COSCO . The Committee on Foreign Investment in the United States ( The Committee on Foreign Investment ) is worried about the inclusion in the $ 6.3bn deal of a large container terminal in California , California , the second -largest port in the country. COSCO executives are reported to have met with CFIUS officials to discuss divesting the terminal or removing it from the acquisition, which is due to be completed by the end of June .