Wilh Wilhelmsen and Wallenius Lines are now only waiting for a final go ahead from competition authorities after signing an official agreement for their long-anticipated joint-venture.
The two companies have put pen to paper for the merger of their joint investments EUKOR Car Carriers and Americal Roll on Roll off Carrier to Wallenius Wilhelmsen Logistics.
Thomas Wilhelmsen, chief executive of the Wilhelmsen Group, said: “Our goal is to create a world-leading and sustainable shipping and logistics platform.
“In addition, the proposed merger will facilitate an improved growth path for the land-based logistics offer, where we expect investments and developments of new products and services.”
The two companies firstly announced the merger in September and they are looking for synergies of up to $100m under the new corporate structure.
Wallenius Wilhelmsen Logistics will have a share capital of NOK 220m ($25.3m) divided into 423,104,938 shares.
After the merger, Wilhelmsen and Wallenius will hold 37.8% and 48% of the new entity.
An extraordinary general meeting will be held on 25 January.
The board of the new joint company will consist of between three and nine shareholders' elected members and up to three deputy members.
