This week marked another triumph in the restructuring of Stolt-Nielsen. Stolt-Nielsen SA announced this week plans to sell its 79,414,260 common shares, or entire 42% stake, in Stolt Offshore. The sale was executed through Fearnley, Lehman Brothers and Pareto Securities and will result in a liquidity event of $504 million at $6.35 per share, of which Stolt-Nielsen expects to book net profits of $360 million in 1Q05. One year ago Stolt had three business issues – Stolt Offshore, the fish farm and the Department of Justice investigation. Now it has just one.
This is only an excerpt of Stolt Liquefies, Readies to Negotiate with Bondholders
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Tags: · DnB NOR Markets, Enskilda, Fearnley, Lehman Brothers, Nutreco, Odfjell, Pareto Securities, Stolt Nielsen, Stolt Offshore, Stolt Seafarm
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