Brief: MPC Container Ships ASA Signs Agreement To Acquire Songa Container AS

Mpc Container Ships ASA

22/06/2021 20:04

June 22 (Reuters) - MPC Container Ships ASA  MPCC.OL :
    * SIGNS AGREEMENT TO ACQUIRE SONGA CONTAINER AS AND
OPERATIONAL
UPDATE
    * ACQUIRE SONGA CONTAINER AS FOR AN AGGREGATE PURCHASE PRICE
OF
USD 210.25 MILLION ON A DEBT AND CASH FREE BASIS
    * TRANSACTION IS SUBJECT TO CUSTOMARY CONDITIONS FOR
COMPLETION
AND IS EXPECTED TO BE COMPLETED BY END OF JULY 2021
    * UPON CLOSING OF TRANSACTION SONGA'S FLEET WILL COMPRISE 11
CONTAINER VESSELS WITH AN AVERAGE SIZE OF 2,250 TEU
    * AGREED THAT APPROXIMATELY USD 115 MILLION OF PURCHASE
PRICE WILL
BE SETTLED IN CASH
    * REMAINING PORTION OF PURCHASE PRICE WILL BE SETTLED BY WAY
OF
ISSUING APPROXIMATELY 48-50 MILLION NEW SHARES IN MPCC

Source text for Eikon:  ID:nWkr51B6zH 
Further company coverage:  MPCC.OL 

 ((Reuters.Briefs@thomsonreuters.com;))