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BERMUDA - The court sanction hearing for the proposed all-share combination between Hansa Investment Company Limited and Ocean Wilsons Holdings Limited concluded on Monday, with a judgment expected to be delivered soon, according to a statement from Hansa.
The recommended merger, first announced on July 28, 2025, would see Hansa acquire the entire issued and to-be-issued share capital of Ocean Wilsons through a court-sanctioned scheme of arrangement under Bermudian law.
While Ocean Wilsons shareholders approved the scheme at a court meeting on September 12, the court sanction hearing was initially adjourned on September 23 to allow Arnhold LLC additional time to present objections to the proposal.
The hearing, which began on October 30, experienced delays due to adverse weather conditions from Hurricane Melissa and finally concluded on November 3. The court has indicated it will deliver its judgment on whether to sanction the scheme "as soon as possible."
The previously announced timetable for the combination is no longer applicable, and Hansa stated it will provide an updated schedule in due course.
The combination is not subject to the UK City Code on Takeovers and Mergers as Ocean Wilsons is incorporated in Bermuda, though the companies have agreed to certain takeover-related provisions as outlined in scheme documents.
If approved, the transaction would proceed through the issuance of new Hansa shares to Ocean Wilsons shareholders according to the terms of the scheme arrangement.
The information in this article is based on a press release statement issued by Hansa Investment Company Limited.
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