Comment / M&A radar exclusive: Stretched PIL looking to sell the 'good' assets – US buyer in the frame

Singapore’s Pacific International Lines (PIL), which is privately owned, has been off the radar since May when it emerged that sovereign wealth fund Temasek had helped it out providing some vital funding to get through to 2020, keeping default risk at bay.

Now though, market sources say that PIL is still navigating choppy financial waters and is close to divesting peripheral assets, although negotiations are private and any sale is not closed yet. A few of my contacts agree that the carrier’s situation remains ...