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Article: Icelandic Firm Agrees To Buy Versacold for $476 Million

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Transport Topics
Article date:
June 4, 2007
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Iceland-based shipping and storage company Hf. Eimskipafelag Islands, through its wholly owned Canadian subsidiary Eimskip Holdings Inc., agreed to buy Versacold Income Fund for about C$515 million ($476 million), its second purchase of a Canadian cold-storage operator since October.

Eimskip will pay C$12.25 a unit, 16% more than the price on May 9, when Vancouver-based Versacold said it would review its options because it received unsolicited offers, the companies said in a statement.

The addition of Versacold's 72 refrigerated warehouses in North America, Argentina, Australia and New Zealand will expand Eimskip s shipping and storage facilities to every continent, except ...

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