Vitol and Grindrod, joint shareholders of Cockett, have made the strategic decision to conduct an orderly wind-down of Cockett, Vitol said
Vitol and Grindrod, joint shareholders of Cockett, have made the strategic decision to conduct an orderly wind-down of Cockett, Vitol said in its release.
“This difficult wind-down decision was reached after long consideration and in light of the non-core nature of Cockett’s business to both shareholders,” as it is stated in the announcement.
Cockett is in a sound financial position. It will continue to perform all of its existing contractual obligations, in a timely manner, to both suppliers and customers, but as of May 13 it will not enter into any new business, the shareholders state.
“The shareholders are keen
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