SvitzerWijsmuller buys Adsteam
SvitzerWijsmuller have closed the deal on the purchase of Australian tug-company Adsteam. The board of Adsteam has finally accepted SvitzerWijsmullers offer for the shares at a price of AUD 2.54 (EUR 1.51) and SvitzerWijsmuller have accepted that it will only be possible to purchase 84.78 per cent of the shares in the company instead of the intended 90 per cent. In February the last offical hurdles were cleared as the English competition authorities made it clear the SvitzerWijsmuller was to sells its activities in Liverpool in order not to creat a nation wide monopoly business. The purchase will add around 200 tugs to SvitzerWijsmuller fleet of around 300 tugs making the company the worlds largest tug operator.
