Reuters UK
23 Jun 2008
SINGAPORE (Reuters) - Singapore's Neptune Orient Lines (NEPS.SI: Quote, Profile, Research), the world's eighth-biggest container shipping firm, is in talks with banks to take up a $5-7 billion syndicated loan, sources familiar with the situation said.
Talks for a loan come as German tourism group TUI (TUIGn.DE: Quote, Profile, Research) Chief Executive Michael Frenzel tours Asia to market his company's container shipping business Hapag-Lloyd, which the German group has put up for sale and NOL is considered a likely bidder.
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