Quarterly report pursuant to Section 13 or 15(d)

Investments, At Equity, And Advances To 50% Or Less Owned Companies

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Investments, At Equity, And Advances To 50% Or Less Owned Companies
3 Months Ended
Mar. 31, 2018
Equity Method Investment, Summarized Financial Information [Abstract]  
Investments, At Equity, And Advances To 50% Or Less Owned Companies
VA&E. VA&E primarily focuses on the global origination, trading and merchandising of sugar, pairing producers and buyers and arranging for the transportation and logistics of the product. The Company provides an uncommitted credit facility of up to $3.5 million and a subordinated loan of $3.5 million to VA&E. During the three months ended March 31, 2018, VA&E made repayments of $4.4 million and borrowed $0.9 million on the credit facility. As of March 31, 2018, the outstanding balance on the credit facility and subordinated loan was $3.6 million, inclusive of accrued and unpaid interest.
Other. The Company’s other 50% or less owned companies are primarily industrial aviation businesses in Asia. During the three months ended March 31, 2018, the Company received repayments on advances of $0.4 million. As of March 31, 2018, total advances outstanding were $2.0 million.
Subsequent to March 31, 2018, the Company disclosed that a subsidiary entered into a contract to sell its interest in Hawker Pacific Airservices Limited. The Company expects to receive approximately $70.0 million in cash at closing after estimated transaction costs.