Grindrod Shipping has sealed a $44.1m deal to take over bulker joint venture IVS Bulk.
The Nasdaq-listed shipowner is acquiring a nearly 33.3% stake in the company, which has 12 ships.
That will bring its holding to just under 66.8% as Grindrod continues its strategy of moving vessels under its full control to improve financial results.
The seller is an unnamed partner in the venture.
