ACL Closes the Sale of its Venezuelan Operations
American Commercial Lines Inc. (ACL) announced that it has closed the previously announced sale of its interest in ACBL Venezuela, LTD and GMS Venezuela, C.A. . The sale results in the divestiture of the Company’s barge, towboat and related assets that were used to provide barging services on the Orinoco River in Venezuela. The sales proceeds are approximately thirty-two million United States dollars (US $32,000,000), subject to post-closing adjustments. The ownership interest was sold to a consortium of businessmen.