Clear vision crucial for m&a success

Greece agrees to sell 67% of Piraeus port to COSCO Shipping for $402 million

Though Chinese companies have been stepping up the pace of mergers and acquisitions in global markets, they need to have a clear strategy, effective implementation procedure and the necessary capabilities to handle big-ticket deals, experts said on Thursday.

The comments came close on the heels of Chinese conglomerate China COSCO Shipping Co Ltd's decision to pay 368.5 million euros ($402 million) for a 67 percent stake in the Greek port of Piraeus. The deal, long in the works, got bogged down due to the political problems in Greece.