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Neptune Orient Lines Ltd., the shipping company controlled by Singapore’s sovereign wealth fund, is seeking to borrow at least $5 billion for a potential bid to buy TUI AG’s sea-cargo unit, people familiar with the deal said.

Southeast Asia’s largest sea cargo carrier is in talks with lenders to raise between $5 billion and $6 billion, said three people, who declined to be identified because the information isn’t public. Paul Barrett, spokesman for Neptune, which is 66 percent owned by Temasek Holdings Pte, declined to comment.
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