Wilh. Wilhelmsen to buy Unitor group

Wilh. Wilhelmsen to buy Unitor group

   Wilh. Wilhelmsen (WW), a major shareholder in Wallenius Wilhelmsen Lines, American Roll-on/Roll-off and Eukor, has reached agreement to acquire 90.4 percent of the shares in Norway’s Unitor group for NOK 73.5 ($11.33) per share.

   The deal has been concluded with Unitor’s principal shareholders, Umoe Industri AS, the Norwegian National Insurance Scheme Fund and Odin Forvaltning, and allows WW to secure the rest of the Unitor shares. The total purchase price for all the stock is expected will be just over NOK 1.4 billion ($217 million).

   Unitor delivers products and services to ships in service, as well as equipment and systems for fire protection, safety, incineration and insulation to the global shipbuilding industry. Its network comprises 70 owned offices and 154 agents in 75 countries.

   “This acquisition accords with Wilh. Wilhelmsen’s strategy of developing its Wilhelmsen Maritime Services (WMS) subsidiary into a leading global network for the sale of products and services to the maritime sector,” WW said in a statement.

   The takeover is subject to necessary approvals are secured from the competition authorities in countries where Unitor and the WW group have activities of some size.