Rubico Inc. announced its decision to divest its interest in a newbuilding megayacht to exit the megayacht sector. The company intends to pursue a sale of the megayacht or the entity involved in its construction, aiming to redeploy capital towards its core tanker business. This move is expected to generate estimated gross cash proceeds of €30-€35 million ($34.2-$40 million) and eliminate a future capital commitment of €26.5 million ($30.2 million). The megayacht is scheduled for delivery in the second quarter of 2027.
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