J.B. Ugland Shipping to be Acquired by Siva Ventures in $300 million Deal

J.B. Ugland Shipping (JBUS), the shipping arm of J.B. Ugland Holding, was this week acquired by Siva Ventures Limited (SVL), the flagship company of C. Sivasankaran’s $2 billion Sterling Infotech Group in India. Mr. Sivasankaran views this acquisition as a strategic entrance into the shipping sector and will be retaining JBUS’s incumbent management team, led by CEO Bjorn Bergsland.

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