Wilh. Wilhelmsen ASA

Competition authorities' approval received for merger between Wilhelmsen and Wallenius

"We have received all the necessary approvals from competition

authorities, bond holders and general meetings. Additionally, the

respective creditor periods in Norway and Sweden have expired, and

we are therefore ready to proceed to completion of the merger

between Wilhelmsen and Wallenius as announced 22 December 2016,"

says Jan Evyin Wang, president and CEO of Wilh. Wilhelmsen ASA,

owned 72.3% by Wilh. Wilhelmsen Holding ASA.

As soon as the formal changes are registered in The Brønnøysund

Logistics ASA, will start trading under the ticker WWL at the Oslo

Stock Exchange.

Wilh. Wilhelmsen ASA will issue shares to Wallenius Lines AB in

exchange for their shares in the currently joint investments. At the

completion of the merger, Wilh. Wilhelmsen Holding ASA and Wallenius

Lines AB will hold 37.8% and 48% of the new entity to be named

Wallenius Wilhelmsen Logistics ASA. The parties have agreed that

Wallenius will reduce its shareholding subsequent to the merger,

whereby both parties eventually will have an equal shareholding in

the new entity.

Merging the joint ownership interests in Wallenius Wilhelmsen

Logistics, EUKOR Car Carriers and American Roll-on Roll-off Carrier,

Wilhelmsen and Wallenius will create a world leading and sustainable

shipping and logistics platform.

"In addition, we expect the new governance structure to be agile,

enabling efficient adoption to rapidly changing market conditions.

In addition, one common owner and governance structure will enable

substantial synergies. Last, but not least the new structure will

facilitate an improved growth path for the land-based logistics

offer, where we expect investments and development of new products

and services," says Wang.

For a full description of the merger, please refer to the Stock

Exchange Notices from Wilh. Wilhelmsen ASA dated 22 December 2016

and 20 January 2017.

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