Otto Marine sells entire 49% shareholding in West African JV

Otto Marine says Otto Investment Limited (OIL), a wholly-owned subsidiary of the company, has sold its entire 49% shareholding interest in its joint venture company, West African Invest Ltd (WAIL) to its JV partner Swiss Overseas Invest Ltd (SOIL) for US$26.6 million ($34.7 million). The gain of US$0.6 million will be used for general working capital.