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Magnus sells portfolio of listed securities for $2.87 million

Published on Jan 13, 2014 8:51 PM

Magnus Energy Group said its wholly owned subsidiary, Antig Investments, signed a deal on Jan 13 to dispose Wallmans to Enchante Services Inc for about $2.87 million.

The buyer is a company incorporated in the Marshall Islands.

Wallmans holds a portfolio of listed securities with an approximate worth of $2.87 million and has negative net assets of $3.9 million and negligible net profit for the period ended Dec 31, 2013.

The sale is part of the group's internal restructuring process to streamline its investment securities trading activities.

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