Aboitiz Equity Ventures Inc. has completed its exit from shipping-related businesses with the sale of its entire stake in maritime services group Aboitiz Jebsen, a partnership with the Jebsens group of Norway.
In a disclosure to the Philippine Stock Exchange on Wednesday, AEV said it had sold its shares in Aboitiz Jebsen Co., Aboitiz Jebsen Manpower Solutions and Jebsens Maritime—collectively called the Abojeb group—to PTC Holdings Corp., Behike Holdings, Valdicava Holdings, Jebsen Invest A.S. and Furunes Holdings Inc.
AEV’s interest in the Abojeb Group was sold for $8.3 million, a price that included Abojeb Group’s interest in its subsidiaries.
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