BERMUDA - Ocean Wilsons Holdings Limited (LSE:OCN), a Bermuda-based investment holding company, has announced a series of financial updates in its first quarter report for 2025. The company, which operates through its two subsidiaries, is in the process of selling its port and maritime logistics subsidiary, Wilson Sons S.A., to MSC Mediterranean Shipping Company SA.
The transaction, initially disclosed on October 21, 2024, is expected to be finalized in Q2 2025, subject to regulatory approvals and other closing conditions. Ocean Wilsons anticipates a total cash consideration of R$4.352 billion, or R$17.50 per Wilson Sons share, which will be converted to US dollars at the prevailing exchange rate before completion. After accounting for transaction costs and taxes, the proceeds are expected to exceed US$593 million.
As of March 31, 2025, Ocean Wilsons’ investment portfolio was valued at US$321.2 million, or US$9.08 per share. Including cash at the holding company level, the implied net asset value per share is US$27.20. The company has also declared a dividend of US$1.22 per share, payable on May 28, 2025.
Wilson Sons reported Q1 2025 net revenues of US$131.3 million, a 1.5% increase over the same period in 2024, and a profit of US$33.1 million, up 56.1% from the previous year. This performance was primarily due to strong results in logistics and towage operations.
Regarding the proceeds from the Wilson Sons sale, Ocean Wilsons plans to return a portion to shareholders through a tender offer for approximately 20% of its issued share capital. The offer is expected to be launched following the completion of the sale, with details to be provided to shareholders at that time. The company is also exploring strategic options for the remaining proceeds and will update shareholders as decisions are made.
This report is based on a press release statement from Ocean Wilsons Holdings Limited.
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