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Report: Cosco's Long Beach, Calif., container terminal attracts PE firms

U.S. buyout firms Blackstone Group LP and KKR & Co. are interested in acquiring a container terminal in Long Beach, Calif., from Chinese state-owned shipping giant Cosco Shipping Holdings Co. Ltd., Bloomberg News reported, citing people with knowledge of the matter.

Other interested parties include EQT Partners AB and a unit of Macquarie Group Ltd., the sources told the news outlet. Cosco is looking to sell the terminal to get approval from U.S. regulators for its planned purchase of Orient Overseas (International) Ltd.

Potential buyers were asked to submit their bids for the terminal in the week of Dec. 3, the sources said, adding that the facility could be worth at least $1 billion depending on the deal structure. Discussions are still at an early stage and may not result in a deal, according to the sources.

Representatives for Blackstone, EQT, KKR and Macquarie did not comment on the matter, while a representative for Cosco directed Bloomberg's queries to Orient Overseas. Orient Overseas did not immediately respond when asked for comment, according to Bloomberg.