Partial sale of shares in Hyundai Glovis
Through its subsidiary Den Norske Amerikalinje AS, Treasure ASA has sold 1,04% of outstanding shares in Hyundai Glovis Co. Ltd. (“Hyundai Glovis”) against net proceeds of approximately 62,5 mUSD. After the sale Treasure ASA owns 11% in Hyundai Glovis.
Press release
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Thomas Wilhelmsen, Chair of the Board of Treasure ASA, and Group CEO at Wilh Wilhelmsen Holding ASA, confirms that the strategic relationship with Hyundai Glovis remains unchanged, referring to a recent string of agreements and co-operation initiatives between the Wilhelmsen group and Hyundai Glovis.
The Board of Treasure ASA acknowledges that the proceeds are available for new investments or distribution to shareholders. More information will follow in due course before the Annual General Meeting on 16 March 2021.