London-listed Ocean Wilsons Holdings has launched a strategic review of its Brazilian maritime services subsidiary, Wilson Sons.
The Bermudian investment firm said in a filing that the review, which will consider all potential strategic options, is currently at an early stage and there can be no certainty as to its outcome.
Ocean Wilsons owns 57% of Wilson Sons – the largest integrated port and maritime logistics operator in the Brazilian market. The company operates the Tecon Rio Grande container terminal in Rio Grande, Rio Grande do Sul, and the Tecon Salvador container terminal in Salvador, Bahia and renders commercial representation on behalf of shipowners in the main ports of Brazil.
Wilson Sons operates one of the largest tugboat fleets in Latin America with over 70 vessels and has a platform supply vessel joint venture with Chilean group Ultramar. The company also provides integrated logistics solutions and at the shipyard in Guaruja, Sao Paulo, Wilson Sons builds and maintains its offshore and towage fleets, as well as offering small and medium vessel construction for third parties.
Brazilian media recently reported that Ocean Wilsons had been negotiating the sale of Wilson Sons, but the company said that there are no formal proposals from any third party with regard to a potential transaction.
