TIDMOCN
RNS Number : 3981A
Ocean Wilsons Holdings Ld
07 October 2009
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Ocean Wilsons Holdings LIMITED
Our principal operating subsidiary, Wilson Sons Limited released the following
announcement to the Brazilian and Luxembourg stock exchanges.
In full compliance with CVM Instruction Number 358, effective as of January 03,
2002, WILSON SONS LIMITED (BM&FBovespa: WSON11, the "Company") announces to all
its shareholders the signing of a joint venture agreement, effective as of
October 5th, 2009, by and between Wilson, Sons de Administração e Comércio Ltda.
and VIS Limited, both the Company's subsidiaries, and Remolcadores Ultratug
Ltda., owned by Chile's Ultratug Group.
The joint venture vehicle named Wilson, Sons Ultratug Participações S.A.
("Wilson Sons Ultratug") will be a 50/50 company set up between the Wilson, Sons
and Ultratug groups, in accordance with the previously announced Relevant Fact
Notice, dated November 10th, 2008.
Wilson Sons Ultratug's line of business is to operate vessels to support oil and
gas exploration and production activities in Brazil. The main objective of the
joint venture is to expand both groups' operations in the offshore segment,
thereby achieving gains of scale, while also taking advantage of growth
opportunities in Brazil's oil and gas industry.
The closing of the joint venture is subject to certain conditions including
further approvals by the competent authorities.
This information is provided by RNS
The company news service from the London Stock Exchange
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