Owens Group today announced the sale of Seatrans New Zealand to ship's agency McKay Shipping.
Owens Group managing director Don Braid would not disclose the sale price, but said the settlement date was June 30.
The Seatrans brand will continue under the new ownership.
Owens announced it was putting its agency operations upfor sale in March, saying they were no longer core business.
Grant Samuel advised on the sale process.
The sale is one of a number of divestments Owens has on the go.
Yesterday the group announced it planned to sell a range of Australasian assets to Sea Containers Australia Ltd (Seaco) for $12.5 million.
The group also announced yesterday that Owens Container Services (OCS) would purchase from Sea Containers British Isles the 26 per cent of shares in Westfield Container Depot that OCS does not already own, for a proposed $1 million.
Owens is 80 per cent owned by Mainfreight, while Toll Holdings holds a 12 per cent stake.
Owens' shares were untraded today by early afternoon, after closing yesterday at $1.06. The stock has traded between 85 cents and $1.20 over the past 12 months.
