NYK LINE ACQUIRES REMAINING SHARES OF HDK, TSK

NYK LINE ACQUIRES REMAINING SHARES OF HDK, TSK    NYK Line said it has reached agreement to acquire the remaining shares of Hinodekisen Kabushiki Kaisha in a share exchange. The Asian carrier will also acquire the conventional vessel trade operations of Tokyo Senpaku Kabushiki Kaisha.
   HDK and TSK are members of the NYK Group, with NYK currently holding 43.91 percent of HDK and 39.23 percent of TSK.
   NYK said the purpose of the two deals is to “unify the group's operations in conventional vessel (including heavy-lift) trade in order to enhance trade management.”
   The transaction will also enable TSK to concentrate on container trade” to bolster market share in the Asian container trade market, NYK said. SK is also expected to play a greater role in the NYK Group's global strategy in worldwide container trade.
   The TSK transaction is effective Jan. 1, while the share exchange between NYK and HDK will be performed on Feb. 1.