Ocean Wilsons’ subsidiary, OW Overseas Limited (OWOIL), has agreed to sell its 56.47 per cent interest in Wilson Sons to Shipping Agencies Services Sàrl (SAS) for BRL4.352 billion ($764.9 million).
SAS is a completely owned subsidiary of Mediterranean Shipping Company SA. (MSC).
Ocean Wilsons announced a review of its firm last June in response to rumours linking MSC to a potential share buy.
“The Board believes that it is a compelling time to realise its investment,” declared Caroline Foulger, Ocean Wilsons’ Chair.
“This is an exciting time for Ocean Wilsons, and we remain committed to maximising shareholder value through strategic decision-making and disciplined investment growth”.
READ: Wilson Sons cashes $115 million in Q1 2023
The Board currently expects to return a significant portion of the net proceeds from the transaction to shareholders and is considering reinvesting some or all of the remainder in OWIL’s diversified portfolio business.
The transaction is projected to be completed in the second half of 2025, subject to the receipt of all necessary regulatory clearances between signing and completion.
