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Article: Concordia Maritime Sells Shareholding in US Shipping Company General Maritime.
- Article from:
- Business Wire
- Article date:
- August 28, 2009
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STOCKHOLM, Sweden -- Regulatory News:
Affects the forecast result before tax for 2009 but not the company's financial position and investment capacity
Concordia (STO:CCORB) Maritime has sold its holding of 1.5 million shares in the US shipping company General Maritime. As the shares had already been written down to their market value, the sale only marginally affects the company's equity and total comprehensive income. However, in accordance with IFRS' accounting rules, the effect on the result will be reported in the Income statement and not, as was previously the case, under Other total comprehensive income.
The sale has generated a cash ...