The Singapore shipowner said it was buying out its partnerHoe Leong, making Aries a 100%-owned subsidiary.
The price also includes the waiving of any claims eitherparty may have against the other. It did not elaborate on the nature of theseclaims.
Hoe Leong’s shareholders must vote for the deal.
The price was based on the partners’ mutual desire to endthe venture and its net asset value, Otto added.
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