MOL Completes Acquisition Of Utoc Corporation
Mitsui O.S.K. Lines, Ltd. (MOL) announced the completion of its 100% acquisition of Utoc Corporation. As announced on November 30, 2021, timely disclosure, “Notice Regarding Commencement of the Tender Offer for Share Certificates, Etc. of Utoc Corporation (Securities Code 9358),” MOL offered to acquire Utoc’s ordinary shares with the objective of making the company a wholly-owned subsidiary of MOL.
Utoc Corporation provides transport services at ports and distribution services. The tender offer was completed on January 18, 2022 and MOL acquired 95.05% of Utoc’s ordinary shares. Utoc became a wholly-owned subsidiary of MOL upon effectuation of today’s share acquisition, through a series of procedures to make MOL the sole shareholder of Utoc.
Prior to this, Utoc fell under the criterion for delisting from the First Section of the Tokyo Stock Exchange, Inc. and was delisted as of February 28, 2022.
MOL is working to concentrate its group management resources in a stronger form, aiming to strengthen group-wide management. By successfully making Utoc a wholly-owned subsidiary, it will not only strengthen Utoc’s business, but also leverage its technological capabilities, fostering the growth of the entire group and ensuring a sustainable increase in corporate value.
About Utoc Corporation
Business: Port transportation, ocean transport, general motor truck transportation, consigned freight forwarding, warehousing, customs clearance, construction, real estate
Paid-in capital: 2,155 million yen
Founded: December 8, 1915
Reference: mol.co.jp
Shipping News You Would Like:
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Do you have info to share with us ? Suggest a correction
Latest Shipping News You Would Like:
55 Chinese Sailors Presumed Dead After Nuclear Submarine Became Trapped Underwater, According To Sources
All Three Of Ukraine’s Major Black Sea Ports Have Reopened To Ships
Four In Court Regarding A €157 million Cocaine Seizure From A Cargo Vessel
World’s Largest Cruise Ship “Icon Of The Seas” Will Make its Debut in January 2024
Remains Of US Navy Sailor Killed In The Pearl Harbor Attack Identified After 80+ Years
Get the Latest Maritime News Delivered to Your Inbox!
Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.