Wilhelmsen and Wallenius 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.
“Signing the transaction agreement is an important milestone in the merger as announced in September,” said Jan Eyvin Wang, president and CEO of Wilh. Wilhelmsen. “The final go ahead is pending approval from competition authorities and the respective entities’ shareholders.”
Wilh. Wilhelmsen will issue shares to Wallenius Lines in exchange for their shares of the currently joint investments. At the completion of the merger, Wilhelmsen and Wallenius will hold 37.8% and 48% of the new entity to be named Wallenius Wilhelmsen Logistics. 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.
“Our goal is to create a world-leading and sustainable shipping and logistics platform,” said Thomas Wilhelmsen, group CEO for the entire Wilhelmsen group. “In addition, the proposed merger will facilitate an improved growth path for the land-based logistics offer, where we expect investments and development of new products and services.”