Subscribe to RSS feedCrisis dents interest in Allco shipping
Ferrier Hodgson, receiver of collapsed Allco Finance Group (Allco), is having trouble finding buyers for the group’s shipping assets.
Allco ships proving hard to sell
Talks were continuing regarding the restructure or sale of Allco’s shipping assets although difficult conditions in the international shipping industry have delayed the process, Ferrier Hodgson’s Peter Gothard said.
The shipping assets are said to be worth about $200m.
Meanwhile, Ferrier Hodgson said it had sold Allco’s aviation unit to a consortium comprising of China’s HNA Group and US leasing business Bravia Capital Partners for an undisclosed sum.
“We had a high level of interest in the aviation business, particularly given the current economic climate, and we are very pleased with the outcome of the sale,” Mr Gothard said.
In December last year, Ferrier Hodgson sold Allco’s North American rail assets to lease financing and transportation asset specialist GATX, while CHAMP, private equity company, acquired the Allco Alleasing business.
| Tweet |
