CECO Divesting Remaining 20% Stake In Eitzen Ethylene Carriers Venture

摘要

Oslo-Camillo Eitzen & Co. (CECO) announced it has exercised its put option for the remaining 20% interest in its Eitzen Ethylene Carriers (EEC) joint venture with Jaccar Holdings (PCN, 9 May 2011, p 3). Jaccar last year paid $15-million for a 40% stake in EEC, and last month exercised its option to acquire an additional 40% holding for another $15-million. The acquisition of the remaining 20%, for which no price was given, is expected to be completed in October 2011.