22nd May 2015 16:43
LONDON (Alliance News) - Goldenport Holdings Inc Friday said it has terminated the Sentinel Holdings Inc joint venture with Topley Corporation.
Goldenport and Topley, a subsidiary of Glencore International AG, agreed the termination of the Sentinel joint venture and the transfer of the 50% interest held by Topley to Goldenport for a token consideration of USD1, Goldenport said.
As a result of this agreement, the Goldenport is assuming 100% ownership of M/V Alpine Trader and M/V Ermis that have been owned by the joint venture since their construction in 2009, the company added.
Shares in Goldenport closed down 1.5% at 115.75 pence on Friday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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