Skip to main content

US court ruling quashes Wilhelmsen’s planned acquisition of Drew Marine

Published by
Dry Bulk,

On Saturday 21 July 2018, the US District Court for the District of Columbia announced that it would grant the Federal Trade Commission’s (FTC) motion for an injunction to block Wilhelmsen Ships Service’s (Wilhelmsen) acquisition of Drew Marine Technical Services (Drew). Following this court ruling, Wilhelmsen and Drew have agreed to abandon the transaction.

CEO of Norway-based global maritime industry group, Wilhelmsen, Thomas Wilhelmsen, commented: “We disagree with the views of the US competition authorities. This would have been an important strategic investment for our group, which we believe would have meant better services and better prices for our customer. We are therefore disappointed that we will not be able to bring the deal to a close.”

Wilhelmsen and Drew have reportedly agreed on a termination fee of US$20 million. According to Wilhelmsen, the fee will now be invoked and have a negative, non-recurring effect on Wilhelmsen’s second quarter accounts, which are to be released on 9 August 2018 at 20:00 CET.

Read the article online at:

You might also like

Kabel Schlepp

WEBINAR - Key criteria to ensure proper selection of a cable drag chain

In this webinar KabelSchlepp will review and discuss the items needed to ensure that a cable track is properly selected and sized for the user’s application. How diameters and weights of the fill package effect cable track selection and how the jacket material of the fill package influences the cable track design. Register for free today »


New Bedeschi project for Kima

The project is for the transportation of fresh urea from granulation to bagging silos or to urea bulk storage.


Embed article link: (copy the HTML code below):