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Braemar Shipping Services sells remaining stake in AqualisBraemar for £7.3m

Thu, 20th May 2021

Shipbroker Braemar Shipping Services said it had sold its remaining stake in AqualisBraemar for £7.3 million. The company realised a profit on sale of £3.9 million. Braemar received its investment in AQB as a result of the Braemar board's decision to exit technical services and dispose of its Technical Services division to Aqualis ASA in June 2019 in exchange for a minority equity stake in the combined entity. The net proceeds of the sale would be used to 'increase the resources available to the group to pursue its new growth strategy centred on shipbroking,' the company said. The group's net bank debt was approximately £10 million at 28 February 2021. At 9:59am: (LON:BMS) Braemar Shipping Services PLC share price was 0p at 141p Story provided by StockMarketWire.com

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