Announced
Financials
Tags
marine vessels
Friendly
Single Bidder
United States
Acquisition
Cross Border
Marine Transportation
Majority
Private
Pending
Synopsis
Swire Shipping, a high frequency liner shipping services provider, agreed to acquire Westwood Shipping Lines, an independent vessel operator, from Sumitomo Warehouse, a warehousing and freight transportation businesses operator. Financial terms are not disclosed. "This is a win-win for everyone. We are excited about joining the Swire Group because Westwood will now be a shipping company owned by a shipping company, one with a long history and wide Pacific presence. It will allow us to share synergies and tap new resources, expertise, and capabilities to serve our customers," Jack Mahoney, Westwood President and CEO.
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