Titan considers stake sale as Warburg takes legal action
Titan Petrochemicals, the Hong Kong-listed shipping and oil storage firm, is in talks to sell a controlling stake to an unnamed third-party investor. The announcement comes as the company faces a winding up lawsuit filed by Warburg Pincus.
Titan said in a regulatory filing that it is negotiating an issue of new shares that, if successful, would likely result in a change of control of the company. Titan reported an annual net loss of HK$783.3...
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