The sale brings an end to the saga of Custos interest in taking over the group.
The company has sold its stake of 24 million shares at the price of 50 pence each. Shares in the group closed 2p down at 53p, valuing the company at £134m.
Michael Nachemson, chief executive, said: 'We believe the risk:reward ratio with this company is not compelling enough for us to stay on as an owner.' In June, Salvesen reported full year losses of £5.5m and cut its dividend heavily. The group also revealed that it would have to increase its pension fund contribution by £1m after a sharp rise in the scheme deficit from £9.6m to £64.5m.