December 23 - Wilh. Wilhelmsen Holding and Wallenius Lines have signed an agreement leading to a new ownership structure for their jointly owned investments in Wallenius Wilhelmsen Logistics, Eukor Car Carriers and American Roll-On Roll-Off Carrier.
HLPFI reported in September that Wilhelmsen and Wallenius intended to establish a new ownership structure for their jointly owned investments and majority of ships.
"Signing the transaction agreement is an important milestone in the merger as announced in September," said Jan Eyvin Wang, president and ceo of Wilhelmsen. "The final go ahead is pending approval from competition authorities and the respective entities' shareholders."
Wilhelmsen will issue shares to Wallenius in exchange for their shares of the current joint investments. On completion of the merger, Wilhelmsen and Wallenius will hold respectively 37.8 percent and 48 percent of the new entity to be named Wallenius Wilhelmsen Logistics ASA.
The parties have also agreed that Wallenius will reduce its shareholding subsequent to the merger, whereby both parties eventually will have an equal shareholding in the new entity.