The company announced in July that domestic company Grupo Pegaso would take a stake in its joint ventures in the country.

But on Wednesday it said the deal was off and instead its associate company Gosh Caballo Eclipse had bought 260,000 more shares in Servicios Maritimos Gosh (Gosh), bringing its holding to 73.5%.

The deal was funded by Eclipse’s internal resources, but it did not give a price.

Posh