Sino-Global Shipping America has signed a share purchase agreement for a 75% majority position in Mandarine Ocean, a Shanghai-based shipping company.
"This is a milestone agreement for our Company, which allows our business to expand when we have begun to see an increased level of economic activity now that challenges and delays created by the Coronavirus have begun to wane in China.”
Mr. Lei Cao, Chief Executive Officer of Sino-Global
The deal gives investors hope for a relatively fast return to the norm after the fallout of the Coronavirus outbreak, and even exemplifies a possible “win-win” scenario to “grow operations at an accelerated rate.”