FSL Sells Stake in Torm

February 6, 2015

FSL Trust Management has sold its entire shareholding in Denmark-based Torm, the company announced Friday. 
The sale of over 18 million shares generated $2.63 million for FSL. FSL gained $1.71 million from the initial investment in the shipping company, which was part of a restructuring of nonperforming bareboat contracts in 2012.
Photo courtesy of Torm
Photo courtesy of Torm
The gain will be listed in FSL's first quarter accounts. FSL performed the disposal during a short term spike in Torm share prices between January 21 and January 25. 

Related News

Houthis Claim More Ship Attacks, Targetting US Warship and Merchant Vessel Auramarine Expands in South Korea Suspected Somali Pirates Taken to Seychelles UK Confirms It Will Build Six New Warships Marlink Expands Global Service Support Network