SINGAPORE (July 29): GKE Corporation has entered into a memorandum of understanding (MoU) to acquire a 100% stake in TNS Ocean Lines from its vendors for a purchase consideration $9 million.

TNS is an operating business in the maritime logistics sector, and is principally engaged in the business of providing stevedoring and lighterage services, lashing, wharf operation services and transportation of mariner materials by sea.

Upon completion of the acquisition, TNS will become a wholly-owned subsidiary of GKE.

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