Ocean Wilsons Holdings Limited says its wholly-owned subsidiary, OW Overseas (Investments) Limited has agreed to sell its 56.47% interest in Wilson Sons S.A. to SAS Shipping Agencies Services Sàrl, a wholly-owned subsidiary of MSC Mediterranean Shipping Company SA, for R$4.352bn ($768m) or R$17.50 per share. After Brazilian withholding tax, the net proceeds should be about $593m. The deal is expected to complete during the second half of 2025 (subject to regulatory clearance).
The Ocean Wilsons board currently expects to return a meaningful proportion of the net proceeds to its shareholders (for example, by way of a special dividend or a share buyback programme, or a combination of the two), and is currently reviewing a number of options with respect to the remainder, one of which could include re-investing some or all of the remainder into the diversified portfolio business of its wholly-owned subsidiary, Ocean Wilsons (Investments) Limited.
Hansa Trust owns 26.45% of Ocean Wilson’s issued share capital. It plans to engage with Ocean Wilsons Holdings about plans for the use of the proceeds.
HAN / HANA : Good news for Hansa as Ocean Wilsons sells Brazilian business
