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Article: American Commercial Lines Signs Agreement for the Sale of its Venezuelan Operations.
- Article from:
- PR Newswire
- Article date:
- September 18, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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JEFFERSONVILLE, Ind., Sept. 18 /PRNewswire-FirstCall/ -- American Commercial Lines Inc. ("ACL" or the "Company") has entered into an agreement to sell its interests in ACBL Venezuela, LTD and GMS Venezuela, C.A. The agreement, which is subject to certain closing conditions, will result in the divestiture of the Company's barge, towboat and related assets that are used to provide barging services on the Orinoco River in Venezuela. The sales price is approximately thirty-two million United States dollars (US $32,000,000) including anticipated post-closing adjustments. The ownership interest is being sold to a consortium of Venezuelan businessmen. The transaction is ...