June 18, 2009
Finnish family-owned Container Finance Ltd Oy and the stock quoted Icelandic Hf. Eimskipafélag Íslands signed yesterday an agreement regarding a buy-back of 65 % of the shares of Containerships Ltd Oy. After this share purchase, all shares of Containerships are owned by the Finnish shareholder, Container Finance.
Eimskip acquired 65 % of Containerships' shares in September 2006. The announced buy-back transaction is a part of Eimskip's restructuring program.
Eimskip and Containerships shall continue their co-operation after this ownership arrangement. Containerships Finland shall act as Eimskip's agent in the Finnish market; and Eimskip's offices in Norway, Denmark and Sweden shall continue as Containerships' agents.
This share purchase has no effects on Containerships' business strategy.
A Containerships' ship at sea.