Indonesia-based Asian Bulk Logistics (ABL Group) has completed its majority shareholding acquisition of the Engage Marine Group (Engage Marine and its subsidiaries), an Australian provider of integrated maritime services.
Both the ABL Group and Engage Marine said the completion of the acquisition followed the satisfaction of all conditions precedent under a share purchase agreement (SPA), including execution of the relevant completion process and creation of a new shareholding partnership.
The acquisition is part of the ABL Group's long-term growth strategy in Australia and is in line with the company's goal of establishing an integrated logistics and infrastructure platform that will serve the Asia-Pacific region.
Engage Marine's harbour and terminal towage, line boat and pilotage and vessel management capabilities will extend the ABL Group's operational portfolio and will complement the latter's existing rail freight, transshipment, and container businesses. The two companies said this will create a more connected service offering across the maritime and industrial logistics supply chain.
"Bringing Engage Marine into our portfolio marks a defining moment for the ABL Group," said Ika Heru Beth Ari, Chairperson of the ABL Group's Australian holding company Australian Global Infrastructure. "By uniting Engage Marine's premium port towage and marine services with our existing operations across Transshipment Services Australia, SCF Containers, and One Rail Australia, we are realising our blueprint for an interconnected, end-to-end global supply chain."