Grindrod completed the acquisition of 31.14% stake in a IVS Bulk from Bain Capital for $46.3m.

Grindrod, a global provider of maritime transportation services, completed the acquisition of 31.14% stake in a IVS Bulk, a Joint Venture company, from Bain Capital, a private equity firm, for $46.3m. “We are very pleased to announce the completion of the acquisition of the remaining shares in IVS Bulk and 100% ownership of all the owned vessels in the Grindrod Shipping fleet. We would like to thank the team at Bain Capital Credit for their strong partnership over the past eight years in IVS Bulk and wish them all the best in their future endeavors,” Martyn Wade, Grindrod CEO.