Seroja terminates shipping JV with Louis Dreyfus
Friday, September 20 2013 - 11:04 AM WIB
By Alexander Ginting
SGX-listed bulk vessel firm Seroja Investments Limited reported on Friday termination of joint venture between its wholly owned subsidiary PT Pulau Seroja Jaya Pratama (PSJP) with French commodity transporter Louis Dreyfus Armateurs SAS (LDA).
?In connection with the said termination, LDA has transferred its entire 49% equity stake in PT Seroja LD Maritim to PSJP and PSJP?s holding company PT Pulau Seroja Jaya (PSJ) at a total consideration of Rp. 980,000,000 (US$90.000) on 12 September 2013. PT Seroja LD Maritim has consequently become a subsidiary of PSJP and has been renamed PT Seroja Pratama Maritim,? the company said.