CMB Group, a Belgian providing shipping and air freight company, has announced plans for the acquisition of Delphis’ fleet of containerships. Delphis is a fully-owned subsidiary of SAVERCO, one of CMB’s reference shareholders.
Delphis operates a fleet of 14 containerships of which seven are fully owned and seven owned in joint venture. Of the joint venture vessels, six are on long term charter out to Maersk. Of the 14 ships concerned seven are type 1A ice classed and hence suited to navigate through ice. Additionally, the six ships on charter to Maersk are also ice classed ships.
Simultaneously with the acquisition of the Delphis’ fleet CMB will also acquire the stake of Delphis’ partner in the seven joint venture vessels.
The overall consideration for both transactions amounts to $2.2m and is based on the current market value of the vessels and of the time charter contracts. CMB expects to be able to close the transactions early in 2015.
For more information on mergers and acquisitions activity take a look at Ti’s brand new European Mergers and Acquisitions 2014 report.
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