Wallenius Lines has signed an agreement to purchase SOL Group’s shares in Wallenius SOL, making it the sole owner of the shipping firm.
Wallenius SOL manages logistical networks in the Baltic Sea, the North Sea, and the Gulf of Bothnia. These operations facilitate transport for industrial clients in Finland, northern Sweden, the British Isles, and mainland Europe.
Erik Nøklebye, Chief Executive Officer of Wallenius Lines, stated that full ownership allows for a holistic approach to the development of the business.
SOL Group Chief Executive Officer Tommy Kalin expressed confidence in the future of the venture following the divestment of their stake. “We leave with full confidence in the company’s continued journey and long-term development,” Kalin said.
“For Wallenius SOL, this means a clear ownership structure and long-term conditions to continue developing the business in line with our plan,” Chief Executive Officer of Wallenius SOL, Elvir Dzanic remarked.
The company confirmed that operational activities and the current management team would remain unchanged. This includes the continued implementation of its long-term strategy.
Completion of the deal remains subject to regulatory approval from the Swedish Competition Authority. The transaction also requires clearance from the Inspectorate of Strategic Products.
