The agreement, which has a total value of more than €250m, guarantees the stable continuation of the company's activity, which has been active in the shipping market for four generations.
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This article discusses a recent Resolution issued by the UAE Cabinet that sets out the possibility for maritime businesses in the UAE to be fully-owned by foreign investors.
The parties have now amicably settled all their disputes, with Jiangsu Guoxin to pay Precious US$40.5m (as announced to the parties’ respective listing authorities).