Latest news with #marineServices
Arabian Business
3 days ago
- Business
- Arabian Business
Abu Dhabi's AD Ports Group and Bahrain's ASRY sign three LoIs
Abu Dhabi's AD Ports Group has signed three letters of intention with the Manama-based Arab Shipbuilding & Repair Yard Company (ASRY) for the provision of marine services in Bahrain, and to collaborate on strategic maritime and ports projects. These agreements come after Noatum Maritime, part of AD Ports Group's Maritime & Shipping Cluster, formed a joint venture (JV), ASRY Marine, with ASRY. The new company will be focused on providing integrated marine services in Bahrain. AD Ports and ASRY deepen strategic ties AD Ports Group has now signed a Head of Terms (HoT) to establish a new JV to manage drydock facilities and shipyards. The JV company seeks to enhance drydocking and shipbuilding capabilities within the GCC and explore opportunities in other regions. The two parties signed a second letter of intent with India-based JM Baxi, which is in marine services, ports, logistics, and technology. This agreement focuses on creating green ship recycling facilities to promote a circular economy by repurposing parts and minimising waste. JM BAXI is known for promoting and implementing sustainable practices in green recycling and supports the implementation of the Hong Kong Convention, a global standard for responsible ship recycling. The final HoT seeks to explore joint investment opportunities within ports and terminals. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, commented: 'Following the successful formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm. 'We have already developed strong working ties, and this agreement opens the door to create more value and growth across our operations. Exploring opportunities to establish green ship recycling facilities is also very important for us, ensuring that vessels are retired in a safe and environmentally responsible manner.' Dr Ahmed Al Abri, CEO, ASRY, added: 'We are proud to enhance and expand our strategic partnership with AD Ports Group through these new agreements. By combining our shared expertise and advanced infrastructure, and in line with global shifts in the maritime industry, we aim to strengthen our capabilities in drydocking and shipbuilding across the GCC and beyond. 'We also look forward to developing green ship recycling capacities and entering a vital new field in port management and operation. These initiatives reflect our ongoing commitment to a culture of innovation, operational excellence, and driving growth in the maritime sector.'
Zawya
3 days ago
- Business
- Zawya
AD Ports Group, ASRY sign three heads of terms to collaborate on strategic maritime, ports projects
ABU DHABI: AD Ports Group signed three Heads of Terms (HoTs) with the Arab Shipbuilding & Repair Yard Company (ASRY), for the provision of marine services in Bahrain to collaborate on strategic maritime and ports projects. The signing took place in the presence of H.H. Shaikh Nasser bin Hamad Al Khalifa, His Majesty's Representative for Humanitarian Works and Youth Affairs, Kingdom of Bahrain, Chairman of Bapco Energies. These new agreements follow the successful establishment of ASRY Marine, a joint venture between Noatum Maritime, part of AD Ports Group's Maritime & Shipping Cluster, and ASRY, focused on providing integrated marine services in Bahrain. The first Head of Terms (HoT) pertains to a Joint Venture (JV) to manage drydock facilities and shipyards. The JV aims to leverage the capabilities and facilities of each party through their established businesses in this sector. This agreement seeks to enhance drydocking and shipbuilding capabilities within the GCC and explore opportunities in other regions. Additionally, both parties signed a second HoT with a third party, JM Baxi, an India-based well-established business specialising in marine services, ports, logistics, and technology. This agreement focuses on creating green ship recycling facilities to promote a circular economy by repurposing parts and minimising waste, thereby reducing carbon emissions. Green recycling in the shipping industry involves the environmentally responsible dismantling and repurposing of ships, contributing to resource conservation and pollution reduction. JM BAXI is actively involved in promoting and implementing sustainable practices in this area and supports the implementation of the Hong Kong Convention (HKC), a global standard for responsible ship recycling. The final HoT signed by AD Ports Group and ASRY relates to exploring joint investment opportunities within ports and terminals. Through the creation of a collaborative framework and a working group the parties will draw on their joint expertise to identify prospective areas of development. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said, 'Following the successful formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm. We have already developed strong working ties, and this agreement opens the door to create more value and growth across our operations. Exploring opportunities to establish green ship recycling facilities is also very important for us, ensuring that vessels are retired in a safe and environmentally responsible manner.' Dr. Ahmed Al Abri, CEO – ASRY, said, " We are proud to enhance and expand our strategic partnership with AD Ports Group through these new agreements. By combining our shared expertise and advanced infrastructure, and in line with global shifts in the maritime industry, we aim to strengthen our capabilities in drydocking and shipbuilding across the GCC and beyond. We also look forward to developing green ship recycling capacities and entering a vital new field in port management and operation. These initiatives reflect our ongoing commitment to a culture of innovation, operational excellence, and driving growth in the maritime sector." The new areas of cooperation strengthen both parties' maritime capabilities and reach, while the focus on green ship recycling highlights a commitment to sustainability and environmental responsibility, driving innovation and industry growth.
Yahoo
21-05-2025
- Business
- Yahoo
Request for delisting of Svitzer's shares from Nasdaq Copenhagen A/S
Reference is made to Svitzer Group A/S' (Svitzer) company announcement dated 16 May 2025 regarding the final result and completion of APMH Invest A/S' (APMHI) all-cash voluntary recommended purchase offer to acquire all of the issued shares (the Shares) in Svitzer, except for Shares owned by APMHI and Shares held by Svitzer and/or its subsidiaries in treasury, if any. Following a request from APMHI, Svitzer's Board of Directors has today decided to request Nasdaq Copenhagen A/S (Nasdaq Copenhagen) to have Svitzer's Shares (ISIN DK0062616637) removed from trading and official listing at Nasdaq Copenhagen. Provided that Nasdaq Copenhagen accepts the request, the delisting will be completed with the last day of trading and official listing on Thursday 22 May 2025. APMHI has informed that it will initiate a compulsory acquisition of the Shares held by the remaining minority shareholders in Svitzer in accordance with sections 70 and 72 of the Danish Companies Act, expectedly Friday 23 May 2025, being the first business day after the last day of trading and official listing of the Shares. Further information on the compulsory acquisition will be provided separately once the delisting request has been accepted, and the compulsory acquisition is commenced. About Svitzer Svitzer is a leading, global towage and marine services provider. The core business is to assist large seaborne vessels in manoeuvring in and out of ports and terminals to berth and unberth. With around 450 vessels, Svitzer's services play a crucial role as part of critical port infrastructure. Svitzer was founded in 1833 and serves approximately 2,000 customers in more than 140 ports and 40 terminals across 37 countries. Read more on For further information, please contact: Michael Nass Nielsen, Head of Investor Relations and FP&AT: +45 24941654E: ir@ Attachment Announcement of Svitzer delisting requestSign in to access your portfolio
Yahoo
16-05-2025
- Business
- Yahoo
Major Shareholder Announcement
Pursuant to Section 30 of the Danish Capital Markets Act, Svitzer Group A/S, CVR-no. 44 79 14 47, ('Svitzer') hereby announces the receipt of the following major shareholder notifications following the announcement of the final result and completion of APMH Invest A/S' all-cash voluntary recommended purchase offer to acquire all issued shares of Svitzer, excluding Svitzer treasury shares, if any, and shares held by APMH Invest A/S, on the terms set out in the offer document published by APMH Invest A/S on 2 April 2025. On 16 May 2025, APMH Invest A/S has (on behalf of itself and its ultimate owner A.P. Møller og Hustru Chastine Mc-Kinney Møllers Fond til almene Formaal) notified Svitzer that APMH Invest A/S holds a total of 29,462,147 shares and voting rights in Svitzer corresponding to 93.4% of the total share capital and 93.4% of the voting rights in Svitzer. APMH Invest A/S is indirectly wholly owned by A.P. Møller og Hustru Chastine Mc-Kinney Møllers Fond til almene Formaal through A.P. Møller Holding A/S. On 16 May 2025, A.P. Møller og Hustru Chastine McKinney Møllers Familiefond has notified Svitzer that A.P. Møller og Hustru Chastine McKinney Møllers Familiefond no longer holds any shares and voting rights in Svitzer. About Svitzer Svitzer is a leading, global towage and marine services provider. The core business is to assist large seaborne vessels in manoeuvring in and out of ports and terminals to berth and unberth. With around 450 vessels, Svitzer's services play a crucial role as part of critical port infrastructure. Svitzer was founded in 1833 and serves approximately 2,000 customers in more than 140 ports and 40 terminals across 37 countries. Read more on For further information, please contact: Michael Nass Nielsen, Head of Investor Relations and FP&A T: +45 24941654 E: ir@ Attachment Svitzer Group - Major Shareholder announcementError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
APMH Invest has announced the preliminary results of the all-cash recommended purchase offer for the shares in Svitzer
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL Reference is made to company announcements dated 2 April, 1 May, and 9 May 2025 concerning APMH Invest A/S' ('APMHI'), a wholly owned subsidiary of A.P. Møller Holding A/S, all-cash voluntary recommended purchase offer to acquire all of the issued shares (the 'Shares') in Svitzer Group A/S ('Svitzer'), except for Shares owned by APMHI and Shares held by Svitzer and/or its subsidiaries in treasury, if any (the 'Offer'). APMHI has today announced the preliminary result of the Offer. Based on the preliminary result and summation of acceptances, APMHI has informed Svitzer that APMHI has received acceptances, which together with its current shareholding in Svitzer, represent a total of approximately 93.4% of the entire share capital and total number of voting rights in Svitzer. The announcement from APMHI is attached. The final result and completion of the Offer is expected to be announced on Friday 16 May 2025. For further information, please contact: Michael Nass Nielsen, Head of Investor Relations and FP&A T: +45 24941654 E: ir@ About Svitzer Svitzer is a leading, global towage and marine services provider. The core business is to assist large seaborne vessels in manoeuvring in and out of ports and terminals to berth and unberth. With around 450 vessels, Svitzer's services play a crucial role as part of critical port infrastructure. Svitzer was founded in 1833 and serves approximately 2,000 customers in more than 140 ports and 40 terminals across 37 countries. Read more on Preliminary result for the all-cash recommended purchase offer by APMH Invest for the shares in Svitzer Disclaimers This announcement does not constitute an offer or invitation to purchase any securities in Svitzer or a solicitation of an offer to buy any securities in Svitzer, pursuant to the Offer or otherwise. The Offer will be made solely by means of the offer document containing the full terms and conditions of the Offer, including details of how the Offer may be accepted. Important information The Offer will not be made, and the Svitzer shares will not be accepted for purchase from or on behalf of persons, in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws or regulations of such jurisdiction. Persons obtaining this announcement and/or into whose possession this announcement comes are required to take due note and observe all such restrictions and obtain any necessary authorisations, approvals or consents. Neither APMHI nor Svitzer or any of their respective advisors accepts any liability for any violation by any person of any such restriction. Any person (including, without limitation, custodians, nominees and trustees) who intends to forward this announcement to any jurisdiction outside Denmark should inform themselves of the laws of the relevant jurisdiction, before taking any action. The distribution of this announcement in jurisdictions other than Denmark may be restricted by law, and, therefore, persons who come into possession of this announcement should inform themselves about and observe such restrictions. Any failure to comply with any such restrictions may constitute a violation of the securities laws and regulations of any such jurisdiction. Important information for shareholders in the United States The Offer is being made for the securities of Svitzer, a public listed company incorporated under Danish law, and is subject to Danish disclosure and procedural requirements, which differ from those of the United States. The Offer will be made in the United States in compliance with applicable Danish securities laws and the applicable requirements of the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations adopted by the U.S. Securities and Exchange Commission thereunder, including Regulation 14E. It may be difficult for U.S. holders of shares to enforce their rights and any claim arising out of the U.S. federal securities laws, because APMHI and Svitzer are located in a country other than the United States, and all of their officers and directors are residents of a country other than the United States. U.S. holders of shares may not be able to sue a non-U.S. company or its officers or directors in a non-U.S. court for violations of the U.S. securities laws. Further, it may be difficult to compel a non-U.S. company and its affiliates to subject themselves to a U.S. court's judgment. Neither the U.S. Securities and Exchange Commission nor any U.S. state securities commission or other regulatory authority has approved or disapproved the Offer, passed upon the fairness or merits of the Offer or provided an opinion as to the accuracy or completeness of this announcement, the offer document or any other documents regarding the Offer. Forward-looking statements This release contains forward-looking statements and statements of future expectations that reflect APMHI's current views and assumptions with respect to future events. These forward-looking statements may discuss expectations, identify strategies, contain projections or state other forward-looking information and include, but are not limited to, statements related to the expected structure and schedule for completion of the Offer and related matters described in this release, the management and prospects of Svitzer's business after the completion of the Offer, APMHI's current plans with respect to the Offer and the business, management and prospects of Svitzer. These statements do not guarantee business performance in the future; they carry known or unknown risks, uncertainties, and other factors that may differ significantly from the actual performance, development or financial position of APMHI and Svitzer in the future. These forward-looking statements can be identified by the use of forward-looking terminology, such as "aims," "believes," "expects," "estimates," "may," "anticipates," "plans," "intends," "should," "will," "seeks," "forecasts," "in the future", or the negative of these terms or similar expressions, or in particular by discussions about "strategy," "target," "plan," or "intention". There is a possibility that actual business results may greatly differ from those expressed in or implied by such forward-looking statements due to various factors. Such factors include, but are not limited to, the following: (i) uncertainties related to the structure and schedule for completion of the Offer, (ii) Svitzer's shareholders may or may not tender into the Offer, (iii) a proposal that competes with the Offer may be made, (iv) the risk that the regulatory and other conditions, which are necessary for the completion of the Offer, will not be satisfied (v) the possibility that the announcement of the Offer may cause difficulty in keeping the relations with Svitzer's management, employees, customers, suppliers and other trading partners, (vi) the risk that a shareholder related lawsuit on the Offer will be filed and the defence thereof may cost significant expenses or lead to large payments, (vii) the impact of changes in the legislative system, accounting standards and other management environments related to the relevant parties, (viii) issues in implementing business strategies, (ix) the impact of financial uncertainties and changes in other general economic and industrial conditions, (x) Offer costs, (xi) fixed or contingent liabilities that may materialize, and (xii) other risks set forth in the offer document publicly disclosed by APMHI or Svitzer. Neither APMHI nor Svitzer has a duty of updating the forward-looking statements as a result of the emergence of new information, future circumstances or other circumstances, unless the updating is explicitly required by applicable law. Attachments APMH Invest announces preliminary results APMH Invest announcement of preliminary resultsSign in to access your portfolio
