Hf. Eimskipafélag Íslands completes acquisition – Fishupdate.com

Hf. Eimskipafélag Íslands completes acquisition Published:  03 August, 2007

EIMSKIP Holdings Inc., an indirect, wholly-owned subsidiary of Hf. Eimskipafélag Íslands has announced that Eimskip has successfully completed its previously announced offer to acquire all the issued and outstanding trust units of Versacold Income Fund. The aggregate acquisition cost, including debt, is CDN$1,180 million.

Versacold has applied to de-list the Units and the Debentures from the Toronto Stock Exchange and will apply to the Canadian Securities Administrators to cease to be a reporting issuer.

The acquisition of Versacold fits well within Eimskip’s long term strategy to build a worldwide network of temperature controlled transportation and warehousing services. The Versacold facilities are complimentary to Eimskip’s and the combined company will have a presence in the temperature controlled transportation and warehousing services market in every continent, except Africa.

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