Wallenius Lines has agreed to buy out SOL Group’s stake in Wallenius SOL, taking full ownership of the short-sea operator focused on northern Europe trades.
The Swedish shipowner said the deal simplifies the ownership structure of the seven-vessel company, which operates across the Gulf of Bothnia, the Baltic and the North Sea, linking industrial cargo flows between Sweden, Finland, continental Europe and the UK.
Wallenius Lines chief executive Erik Nøklebye said the move allows the group to take a more joined-up approach to the business.
“Becoming the sole owner gives us the opportunity to take a holistic approach to the continued development of Wallenius SOL,” he said, pointing to the company’s role in supporting regional industry and infrastructure.
Wallenius SOL, led by Elvir Dzanic, has carved out a niche moving forest products, steel and other industrial cargoes in demanding northern conditions, building long-term contracts with customers across the supply chain.
Dzanic said the change brings clarity. “This means a clear ownership structure and long-term conditions to continue developing the business in line with our plan,” he noted.
SOL Group chief executive Tommy Kalin said the Finnish partner exits with confidence in the company’s direction after helping build up the operation alongside Wallenius.
The transaction does not affect day-to-day operations, strategy or management.
Wallenius Lines, part of Sweden’s Soya Group, is already a major player in car carriers and ro-ro shipping, with stakes in UECC alongside NYK and in Wallenius Wilhelmsen.
Completion of the deal is subject to regulatory approvals in Sweden.
source: Splash247
