In a late-breaking filing with the Oslo bourse American Shipping Company (AMSC) said Converto Capital pulled the proposal on the heels of an investigation that found “strategic alternatives” would likely yield a higher return than the sale of its shares in the operator.
During discussions with a number of different financial institutions and industrial investors the fund claims it gained “valuable confirmation of the future potential” of ASC and Oslo-quoted compatriot Aker Philadelphia Shipyard (AKPS), in which it boasts a 57% stake.
“Converto
