Ocean Wilsons’ subsidiary OW Overseas Investments Limited (OWOIL) has agreed to divest its 56.47% stake in Brazilian maritime services provider Wilson Sons to SAS Shipping Agencies Services, a subsidiary of MSC Mediterranean Shipping Company, for R$4.35bn ($765.5m).
Wilson Sons is listed on the Brasil, Bolsa, Balcão (B3) Brazilian stock exchange and operates in various maritime sectors across major Brazilian ports.
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The company’s activities include towage, container terminals, offshore oil and gas support, small vessel construction, logistics, and ship agency services.
As of 30 June 2024, Wilson Sons’ gross assets were valued at $1.13bn.
Ocean Wilsons chair Caroline Foulger said: “Our strategy has always been focused on delivering enhanced long-term value to our shareholders by carefully balancing investment risks and avoiding the distractions of short-term market cycles.
“This sale aligns with our purpose and will allow us to concentrate on developing the business through sustainable profitable growth.
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By GlobalData“Since our initial investment, Wilson Sons has demonstrated significant financial growth and is today the largest integrated port and maritime logistics operator in Brazil.”
The transaction is expected to finalise in the second half of 2025, subject to regulatory approvals.
In May this year, SAS announced that it is nearing the acquisition of Norwegian tonnage provider Gram Car Carriers (GCC) after its largest shareholders accepted a cash offer exceeding $700m.
Ocean Wilsons, headquartered in Bermuda, is an investment holding company with listings on the London and Bermuda Stock Exchanges. It has two primary investments, including an actively managed international investment portfolio and its stake in Wilson Sons.
MSC is engaged in transportation and logistics services. It has a fleet of over 850 vessels and more than 200,000 employees.
