The shipping carrier entered into an agreement with Groupe CAT to acquire its 50 percent shares in CAT-WWL, making Wallenius Wilhelmsen full owner of the finished vehicles services joint venture.
Wallenius Wilhelmsen Logistics (WWL) and partner company Groupe CAT entered into an agreement in which WWL will acquire Groupe CAT’s 50 percent shares in their joint venture CAT-WWL.
The agreement will give WWL full ownership of the joint venture, WWL said.
CAT-WWL was established in 2006 and includes ten vehicle processing facilities based in South Africa. The facilities provide finished vehicles services, storage management and technical solutions.
Completion of the transaction is subject to approval by South African competition authorities.
Headquartered in Oslo, Norway, WWL is owned by Wilh. Wilhelmsen ASA (50 percent) of Norway and Wallenius Lines (50 percent) of Sweden. The shipping company transports cars, trucks, heavy equipment and specialized cargo.
WWL to acquire full ownership of CAT-WWL
