STX Pan Ocean is shoring up a venture company with its parent in Brazil by taking another large slice.
The South Korean diversified shipowner is paying $1.1m for another 34.4% stake in STX Brazil Trading Ltda, an announcement to the Singapore Stock Exchange read on Wednesday.
The investment moves the owner’s stake in the company, which it owns along with parent STX Corp, from 50% to 84.4%.
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