PWC acquires Transoceanic Shipping
PWC Logistics, a large Middle East-based logistics service provider, has acquired Kenner, La.-based Transoceanic Shipping Co., a project cargo specialist.
Terms of the transaction were not disclosed. Under the agreement, PWC will own all shares of Transoceanic.
The two companies said their union forms “one of the world’s largest specialized logistics management providers,” with offices in 28 countries.
They reported that the Middle East continues its tremendous growth surge in the oil, gas and other industries.
“This transaction also provides our customers with an enhanced global reach, scale and range of services,” said Gregory Rusovich, chief executive officer of Transoceanic.
PWC is a publicly traded company listed on the Kuwait Stock Exchange, with a market capitalization value of about KWD2.4 billion ($8.2 billion).
PWC acquires Transoceanic Shipping
