Abu Dhabi Ports and Invictus agree to buy 5 ships with a capital of 463 million dirhams

Seven Feders, a subsidiary of Abu Dhabi Ports Group, announced the signing of a strategic agreement with Invictus Investments to launch a new global dry bulk cargo service.
Under the agreement, the two companies will purchase vessels through a special purpose facility (SPV), owned by Sven Feders with an 85% stake and Invictus Investments with a 15% stake.
In addition, the two companies will establish a joint venture to operate this service, where the ownership of this joint venture is divided between Sven Feders with a 51% stake, and Invictus Investments with a 49% stake.