Wallenius Wilhelmsen has announced the acquisition of the remaining shares in Armacup, bringing the shareholding percentage from 65 to 100%.
The transaction was closed on 30 April.
As previously communicated, the amended shareholder agreement that was entered into in 2022 stated that Wallenius Wilhelmsen was to buy the remaining shares.
“This acquisition is a strategic move that will also bring growth opportunities in the Asia-Oceania trade through Wallenius Wilhelmsen’s market-leading capacity and our existing investment in integrated logistics offerings in Australia,” said Xavier Leroi, Chairman of the Board at Armacup and COO Shipping Services at Wallenius Wilhelmsen.
Existing synergies between Armacup and Wallenius Wilhelmsen include a shared pool of vessels, agencies in China and Australia, and a shared customer base.
Armacup is a New Zealand-headquartered shipping company that has pioneered the Japanese used car trade since the 1980s. It has since then expanded its position in the Asia-Oceania trade, servicing leading and emerging OEMs in all three main export markets; Japan, China and South Korea.
