Camillo Eitzen Divests Shares in Eitzen Bulk Shipping

16 June 2010 (Last Updated June 16th, 2010 18:30)

Camillo Eitzen has entered into an agreement to divest a large proportion of its shares in Eitzen Bulk Shipping to Chilean company Naviera Ultragas. The Norwegian company said it will divest 600 million of its shares (74.33%) for $93m. Following the transaction, Camillo Eitze

Camillo Eitzen has entered into an agreement to divest a large proportion of its shares in Eitzen Bulk Shipping to Chilean company Naviera Ultragas.

The Norwegian company said it will divest 600 million of its shares (74.33%) for $93m.

Following the transaction, Camillo Eitzen will not hold any shares in Eitzen Bulk Shipping.

The transaction is expected to be complete by the end of June.