Indian shipowning group Mercator Ltd has sold its 66.17% stake in restructuring bulker subsidiary Mercator Lines (Singapore) for a token SGD 3 ($2.15).
Mercator said its 900.85m shares have been split equally between three Singapore investment companies: Bellerophon Holdings, MIB Investments and Wroclaw Holdings.
They are paying SGD 1 each. The sale is expected to be completed by 25 March, with Mercator Ltd effectively writing off its $30.6m
