Independent journal on economy and transport policy
17:52 GMT+2
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Maersk and Grindrod create a joint venture that will bring together their respective logistics activities in South Africa
The agreement includes maritime feeder operator Ocean Africa Container Lines
November 16, 2021
Grindrod is expected to sell to the joint ventures totaling 756 million rand ($49 million) of the group's intermodal activities as well as the feeder shipping company Ocean Africa Container Lines (OACL), of which in 2012 the South African group became unique owner acquiring 51% of the capital then in the hands of Safmarine ( of 27 August 2012), as well as the issue by the joint venture of 76 thousand ordinary shares destined for Grindrod. From transfer is excluded the multipurpose terminal Maydon Wharf of the Port of Durban as well as the United Container Depots (UCD).
Finally, the agreement provides for Grindrod to transfer the 76 thousand ordinary shares of the joint venture at Grindrod Holdings and that the latter cedes 21 thousand to Safmarine for 209 million rand plus an additional cash share. At the end of the transaction, therefore, the Maersk group will hold 51% of the share capital of the new company and Grindrod on remaining 49%.
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Grindrod is expected to sell to the joint ventures totaling 756 million rand ($49 million) of the group's intermodal activities as well as the feeder shipping company Ocean Africa Container Lines (OACL), of which in 2012 the South African group became unique owner acquiring 51% of the capital then in the hands of Safmarine 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
