Dubai – Mubasher: Gulf Navigation Holding PJSC announced Monday raising its shareholding in Gulf Stolt Ship Management GLT to 100% through buying the 50% equity owned by its partner Stolt Nielsen, according to a bourse filing.
Gulf Stolt Ship Management was launched by the two companies as an equally-owned joint venture.
Gulf Navigation said it is completing procedures of transferring equities to its ownership.
However, the company did not disclose the deal’s value.
