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June 16, 2010

Camillo Eitzen Divests Shares in Eitzen Bulk Shipping

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

By cms admin

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.

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