Pacific Radiance has exited its joint venture (JV) with Australia’s Westsea Marine.
The Singaporean owner has sold its 50% shareholding interest in Westsea Radiance for a symbolic fee of $1.
It said the net tangible liability position of $14.3m of the joint company was taken into consideration.
It bought into the Australian company in April 2014, as part of its efforts to expand its business worldwide.
As
