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 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. 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 .
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 .