SMIT buying AdsteamÆs Liverpool towage operation
Adsteam Marine Ltd. has agreed to sell its Port of Liverpool harbor towage business to Dutch shipping group Smit Internationale, giving the Rotterdam-based company its first step into the United Kingdom harbor towage market.
No financial details of the agreement were disclosed.
The sale was forced by the U.K. Competition Commission making a condition of A.P. Moller-Maersk-owned SvitzerWijsmuller’s takeover offer for Adsteam that one of the companies sell their Liverpool operations.
'SvitzerWijsmuller welcomes this initiative to address the U.K. Competition Commission's concerns, and hopes that the sale of Adsteam's Liverpool harbor towage business to SMIT will be completed over the next coming weeks once the above conditions have been met,' SvitzerWijsmuller said in a statement.