Imperial Logistics said on Monday it would sell its European shipping business to Germany-based Häfen und Güterverkehr Köln AG for an enterprise value of 225 million euros ($245.99 million), as it overhauls its operations.

The company's South American shipping business will be continued on a stand-alone basis but will remain available for sale, it added.

(Reporting by Shanima A in Bengaluru; Editing by Aditya Soni)