Brief: Wilhelmsen acquires Drew Marine Technical for about $400 mln

Wilh Wilhelmsen Holding ASA

27/04/2017 19:20

April 27 (Reuters) - Wilh Wilhelmsen Holding ASA  WWI.OL  
    * Wilh. Wilhelmsen Holding ASA: Wilhelmsen acquires Drew 
Marine Technical 
    * Deal for USD 400 million 
    * Acquisition is expected to result in a USD 150 million 
increase in annual total income for Wilhelmsen ships service. 
    * Transaction will be financed by using existing credit 
facilities, available cash and new facilities 
    * About 400 Drew Marine employees will join Wilhelmsen ships 
service upon completion of transaction 
    * If approval from relevant bodies is not received, parties 
have agreed on a termination fee of usd 20 million 
    * Acquired business will be brought into Wilhelmsen ships 
service once transaction is complete 
 
    Source text for Eikon:  ID:nObi1XB2Qa  
    Further company coverage:  WWI.OL  
 
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