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Ocean Wilsons Holdings Ltd - Bermudian investment company with subsidiary providing maritime services in Brazil - Operating subsidiary Wilson Sons Ltd plans corporate restructuring in which Wilson Sons will become a Brazilian company and list on the Novo Mercado segment of the Brazilian Stock Exchange. Under the plan, Wilson Sons Ltd will merge into its controlled subsidiary Wilson Sons Holdings Brasil SA. Currently Wilson Sons is a Bermuda company with shares listed on the Sao Paulo Stock Exchange as Brazilian depositary receipts and also on the Luxembourg Stock Exchange. The merger and listing on the Novo Mercado segment is subject to approvals by shareholders, as well as by regulators in both Bermuda and Brazil. It is intended to simplify the company, increase stock liquidity and facilitate access to capital markets. Ocean Wilsons says it is supportive of the plan, which will not change its interest in Wilson Sons. This is 58.2%.
Current Ocean Wilsons stock price in London: 978.00 pence, up 4.3% on Monday
Year-to-date change: up 16%
By Tom Waite; thomaslwaite@alliancenews.com
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