FSL Sells Stake in 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.
