Competition authorities’ approval received for merger between Wilhelmsen and Wallenius
As soon as the formal changes are registered in The Brønnøysund Register Centre the merged company, to be named Wallenius Wilhelmsen Logistics ASA, will start trading under the ticker WWL at the Oslo Stock Exchange.
Wilh. Wilhelmsen ASA will issue shares to Wallenius Lines AB in exchange for their shares in the currently joint investments. At the completion of the merger, Wilh. Wilhelmsen Holding ASA and Wallenius Lines AB will hold 37.8% and 48% of the new entity to be named Wallenius Wilhelmsen Logistics ASA. The parties have agreed that Wallenius will reduce its shareholding subsequent to the merger, whereby both parties eventually will have an equal shareholding in the new entity.
Merging the joint ownership interests in Wallenius Wilhelmsen Logistics, EUKOR Car Carriers and American Roll-on Roll-off Carrier, Wilhelmsen and Wallenius will create a world leading and sustainable shipping and logistics platform.
“In addition, we expect the new governance structure to be agile, enabling efficient adoption to rapidly changing market conditions. In addition, one common owner and governance structure will enable substantial synergies. Last, but not least the new structure will facilitate an improved growth path for the land-based logistics offer, where we expect investments and development of new products and services,” says Wang.
For a full description of the merger, please refer to the Stock Exchange Notices from Wilh. Wilhelmsen ASA: