May 4, 2020 / 5:58 AM / a month ago

SA's Imperial Logistics to sell European shipping business for $246 mln

May 4 (Reuters) - Imperial Logistics said on Monday it would sell its European shipping business to Germany-based Häfen und Güterverkehr Köln AG for an enterprise value of 225 million euros ($245.99 million), as it overhauls its operations.

The company’s South American shipping business will be continued on a stand-alone basis but will remain available for sale, it added. ($1 = 0.9147 euros) (Reporting by Shanima A in Bengaluru; Editing by Aditya Soni)

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