Edward West edward.west@inl.co.za GRINDROD will sell its 9.6 percent stake in Grindrod Shipping Holdings, parting once and for all with the company that was established in 1910 and from which it was founded.
Grindrod, which now focuses on ports, terminals and logistics solution services for Africa’s exports and imports, said the stake would be sold as part of its strategy to dispose of non-core investments.
The sale of the shares was expected to result in an improved capital allocation in the company.
Grindrod Shipping, based in Singapore, with officers in London, Durban, Tokyo, Cape Town and Rotterdam, and with a Nasdaq primary listing and secondary listing on the JSE, originated in South Africa and is an international shipping company that owns, charters-in and operates a fleet of dry-bulk carriers…