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Smit Lamnalco acquires PB Towage Australia

Engagement

JBR has advised Smit Lamnalco on the acquisition of Pacific Basin Towage Australia.

Background

Pacific Basin is one of the world’s leading dry bulk shipping companies and listed on the Hong Kong stock exchange. Years ago Pacific Basin changed its strategy to diversification. Last year the company set course to focus on their core activities. As a result Pacific Basin decided to divest its Australian harbour towage activities. Smit Lamnalco, a joint venture van Boskalis en Rezayat, operates worldwide in the terminal towage market. The acquisition of the Australian harbor towage activities positions Smit Lamnalco as the second largest towage operator in the Australian market. Furthermore Smit Lamnalco diversifies its service portfolio by including harbour towage activities.

Customer's dilemma

Support the management of Smit Lamnalco with the acquisition.

Our contribution

JBR has assisted the buyer in the transaction.

The result

With help of JBR both parties came into contact and engaged in a transaction after a smooth negotiation process.

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