QShip approves sale of unit for $110m
Dubai, September 16, 2009
Qatar Shipping (QShip) said on Wednesday its board had approved the sale of its Qatar Engineering and Construction unit for $110 million.
The sale is to a consortium led by Qatar America Asia Consortium, the company said in a statement on the bourse website, adding the share purchase agreement was to be signed "shortly."
Qship, which is merging with Qatar Navigation, owns and runs a fleet of vessels operating in sectors including crude oil, petrochemicals and liquefied petroleum gas. - Reuters
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