Announced
Completed
Financials
Tags
Tender Offer
logistics services
Majority
Third Party Logistics (3PL)
Friendly
Single Bidder
South Africa
Cross Border
Acquisition
Public
Completed
Synopsis
Taylor Maritime, an internally managed investment company, completed the acquisition of Grindrod Shipping, a logistics company, for $506m. "The proposed acquisition of Grindrod Shipping, which is expected to be NAV and earnings accretive, represents an exciting opportunity to combine the fleets of both companies to create a significant owner of medium-sized dry-bulk ships. We should benefit from economies of scale from a larger fleet of vessels and taking further advantage of the strong earnings environment we anticipate extending to at least the end of 2024 given favourable supply-demand fundamentals," Edward Buttery, TMI CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.