Wilhelmsen and Wallenius complete deal to form Wallenius Wilhelmsen Logistics

Wilhelmsen and Wallenius complete deal to form Wallenius Wilhelmsen Logistics

Wilhelmsen and Wallenius have completed  a merger deal 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.

The merger between Wilh. Wilhelmsen – owned 72.7% by Wilh. Wilhelmsen Holding – and Wallroll was completed in Norway today, with Wilh. Wilhelmsen as the surviving company. From now on, the new name of Wilh. Wilhelmsen ASA shall be Wallenius Wilhelmsen Logistics, trading under the ticker WWL at the Oslo Stock Exchange.

The merger is based on an exchange ratio of 50/50 between Wilh. Wilhelmsen and Wallroll. As consideration, Wallenius Lines in its capacity as sole shareholder of Wallroll has today received a total of 203,104,938 shares in Wallenius Wilhelmsen Logistics.

As part of the merger, Wallenius Wilhelmsen Logistics will issue $80m of new unsecured bonds that shall be fully subscribed by Wallenius Lines . 

On the management front, Jan-Eyvin Wang is resigning as CEO and will be replaced by Craig Jasienski, while Benedicte Bakke will be replaced as CFO by Rebekka Glasser Herlofsen.

 

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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