The British company P&O - PENINSULAR AND ORIENTAL STEAM NAVIGATION has sold off its 50% stake in the P & O Nedlloyd, the container shipping joint venture it set up with Royal Nedlloyd its Dutch counterpart. Following the deal, the latter will be renamed ROYAL P & O NEDLLOYD and will become an independent company. In exchange, P&O will receive EUR 215 million in cash and will have a 25% stake in ROYAL P& O NEDLLOYD.