Jurong Port Buys Lim Family’s Stake in Universal Terminal

Home Community Industry News Jurong Port Buys Lim Family’s Stake in Universal Terminal

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    Singapore port operator Jurong Port has completed its acquisition of a stake in a major oil storage terminal in the city-state from the family behind collapsed oil trader Hin Leong Trading Pte Ltd, a port spokesman said on Saturday.

    The spokesman said government-owned Jurong Port had completed the purchase of a 41% stake in Universal Terminal from the Lim family. He declined to give details on the transaction.

    A lawyer for the family did not immediately respond to a Reuters email seeking comment.

    The deal marks the sale of the crown jewel among oil and shipping assets owned by oil tycoon Lim Oon Kuin, his son Evan Lim Chee Meng and daughter Lim Huey Ching.

    Read more by visiting MarineLink.com

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