S.W.P. divests interests in Gdansk port terminal
June 01, 2000
by Emily Wilson
Canada's Saskatchewan Wheat Pool, which held a 53% ownership interest in the EuroPort grain terminal at Gdansk, has withdrawn from the project and sold its shares to Strait Crossing Group Ltd., a partner in the venture and the construction company for the project, for U.S.$7 million.
The Pool's withdrawal from the U.S.$77-million EuroPort project was precipitated by the European Bank of Reconstruction and Development's decision to change the terms of its financing arrangements with the project.
The Pool, which has been restructuring its operations, said the decision to exit the EuroPort project was driven in part by a new priority "to focus our asset base in North America."