(Alliance News) - Global Ports Holding PLC and Mediterranean Shipping Co SA's subsidiary SAS Shipping Agencies Services SARL on Tuesday announced that talks about a potential takeover of Global Ports by SAS have failed.
The three companies provided no reason.
"The board of GPH is wholly committed to the successful execution of our long-term strategy to grow the business and create value for all shareholders while providing industry-leading investment and service levels at our cruise ports for the benefit of all stakeholders," said Global Ports Co-Founder, Chief Executive & Chair Mehmet Kutman.
Global Ports shares fell 17% to 94.10 pence each in London on Tuesday afternoon.
By Tom Budszus; tombudszus@alliancenews.com
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Global Ports (GPH)