Update on OCN Strategic Review

Hansa Investment Company Limited

21 October 2024

 

Hansa Investment Company Limited ("the Company", "HICL") notes the announcement made by Ocean Wilsons Holdings Limited ("OWHL") this morning regarding the agreement to sell, through its subsidiary, its 56.47% interest in Wilson Sons S.A. ("Wilson Sons"), the Brazilian port and maritime logistics operator (the "Transaction"). The Transaction is expected to generate net sale proceeds to OWHL of $593m based on the current exchange rates. The Company owns 26.45% of OWHL's issued share capital. 

The HICL Board is pleased that OWHL has completed its previously announced strategic review of its holding in Wilson Sons which has concluded in the agreed Transaction.  The Board notes that completion of the Transaction is expected in the second half of 2025 and that it is conditional on receipt of applicable regulatory clearances. In due course, the HICL Board looks forward to engaging with OWHL as it consults with its shareholders regarding the allocation and deployment of the net sale proceeds of the Transaction.

 

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