The board of Wilh. Wilhelmsen ASA has proposed to carry out a restructuring of the company. In the new suggested structure, Den Norske Amerikalinje AS (owning the 12% shareholding in Hyundai Glovis) is demerged from WWASA and carried forward in a separately listed entity to be named Treasure ASA.
“The proposed demerger will improve transparency and create a simpler structure visualising values for shareholders,” says Jan Eyvin Wang, President and CEO of WWASA.
“In addition, WWASA will be more correctly capitalised following the restructuring.”
“From our perspective, the proposed restructuring enables us to focus on our core activities, while we at the same time create a new entity which we can utilize to create shareholder value,” says Wang. Shareholders in WWASA will receive their prorate share in Treasure ASA, and WWH will therefore own 72.7% of the shares in the new entity.