Bahri to Sell Part of Its Stake in Petredec


The National Shipping Company of Saudi Arabia (Bahri) is looking to sell a part of its 30.3% stake in Bermuda-based liquefied petroleum gas transporting and trading firm Petredec Limited.

As part of the deal, Haydock Holdings Limited, the other partner in Petredec, will also sell part of its 69.7% stake in the firm, bringing the total ownership of the new investor to 13%.

Bahri informed that its financial impact from the transaction will be determined in the event of completion of sale.

The company expects the sale to take place during the first quarter of 2018, and it will use the proceeds of the sale for general corporate purposes.

Conclusion of the transaction is subject to several factors, including but not limited to legal review and final agreement on all terms of the transaction by all parties concerned, Bahri added.

Image Courtesy: Petredec Limited

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Seawork 2020

Seawork is Europe’s leading commercial marine and workboat exhibition, providing businesses the opportunity…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >