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Sipsa to sell stake in Panama shipping company

Sipsa to sell stake in Panama shipping company

September 15, 2021 | Charles Newbery
Chilean shipper stands to earn $36 mln in a deal with Norway's American Shipping

M&A South America Argentina Chile Europe Asia Panama

Chilean maritime shipping company Sipsa said its shareholders have agreed to sell its stake in Panama-based Interocean Transportation to Norway's American Shipping Company for $35.5 million. American Shipping, which trades on the Oslo Stock Exchange, will buy 8,559 shares in Interocean for $4,147.68 each, Sipsa said in a securities filing. The Chilean company's board of directors approved the sale last month, saying the shares were held by its Hazels Investments unit. Sipsa did not sale what it

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