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Article: American Commercial Lines Closes the Sale of its Venezuelan Operations.
- Article from:
- PR Newswire
- Article date:
- October 27, 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., Oct. 27 /PRNewswire-FirstCall/ -- American Commercial Lines Inc. ("ACL" or the "Company") announced today that it has closed the previously announced sale of its interest in ACBL Venezuela, LTD and GMS Venezuela, C.A. (the "Venezuelan Operations"). The sale results in the divestiture of the Company's barge, towboat and related assets that were used to provide barging services on the Orinoco River in Venezuela. The sales proceeds are approximately thirty-two million United States dollars (US $32,000,000), subject to post-closing adjustments. The ownership interest was sold to a consortium of businessmen.
Commenting on the agreement, ...