FSL Sells Stake in Torm

Maritime Activity Reports, Inc.

February 6, 2015

Photo courtesy of Torm

Photo courtesy of Torm

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.
 
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. 
 
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