Wallenius Lines and Wilh. Wilhelmsen signs an agreement that specifies the terms of the fusion



The shipowning society Swedish Wallenius Lines and that Wilh Norwegian. Wilhelmsen has announced today to have completed a step ahead in the project of fusion announced last September from the parts ( on 5 September 2016). This morning, in fact, the two companies have undersigned an agreement that defines the structure of the new society that will maintain the name Wallenius Wilhelmsen Lines (WWL), current denomination of joint venture joint constituted by the two Scandinavian companies in 1999 in which they will meet also the companies of navigation Eukor Car Carriers and American Roll-on Roll-off Carrier.

The agreement previews by Wilh. Wilhelmsen an emission of actions for Wallenius Lines in exchange for the quotas that the Swedish company stops currently in the investments that it has in municipality with the Norwegian partner. In particular, they will be emitted beyond 203 million sets in action for a value of the vital increase of pairs to 105,6 million Norwegian crowns (11,7 million euros) and for a unitary value to action pairs to 0,52 Norwegian crowns.

Al term of the fusion the Wallenius Wilhelmsen Logistics will turn out participated to 37.8% from Wilh. Wilhelmsen and to 48.0% from Wallenius Lines, with remaining stopped 14.2% from the current minority stockholders. WWL will have a share capital of 220 million Norwegian crowns (24,3 million euros) subdivided in 423,1 million actions of the unitary value of 0,52 Norwegian crowns.

Moreover the understanding previews that successively Wallenius reduces own quota in WWL of 43,1 million sets in action so that Wallenius Lines and Wilh. Wilhelmsen has participation of analogous consistency in the new society (160,0 million sets in action). At least 25% of 43,1 million the shares of which Wallenius it will have to be unravelled will come sold within four weeks from the date of completion of the fusion, previewed for the beginning of the next April, and the remaining quota will be sold to more late within three weeks from the publication of according to quarterly budget of the Wilh. Next Wilhelmsen to the completion of the fusion.

The which signed agreement today confirmation also other terms of the announced preliminary understanding to september, between which the maintenance of the presence to the Stock exchange of Oslo, securities market in which Wallenius Wilhelmsen Logistics it will succeed to Wilh. Wilhelmsen.