Finnish conglomerate Aspo has announced a restructuring which will see its shipping brand, ESL Shipping, folded into a new company, reports Splash247.
Aspo is to establish two separate companies: Aspo Compounder and Aspo Infra with the shipping division due to go into the latter brand.
The approach and timing of the transformation are to be defined with the aim to maximise shareholder value, Aspo said in a release. Different possible approaches will be considered including a demerger, and IPO, and full or partial sales.
ESL focuses on handysize and coaster vessels operating in the Baltic Sea region where the company, together with its Swedish subsidiary AtoB@C Shipping, boasts a fleet of more than 40 bulkers ranging from 4,000 to 25,500 dwt.
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Source: Splash247
