LONDON: The boards of Hansa Investment Company Limited (“Hansa”) and Ocean Wilsons Holdings Limited (“Ocean Wilsons”) said Tuesday they have reached a preliminary agreement on an all-share combination that would create a diversified global investment company with over £900 million ($1.14 billion) in net assets.
Under the proposed deal, Hansa would acquire Ocean Wilsons, with Ocean Wilsons shareholders receiving new shares in Hansa based on the relative net asset values of the two firms. The exchange ratio will be determined after adjustments for dividends, transaction costs and other factors as of June 30, 2025.
The merger aims to combine Hansa’s and Ocean Wilsons’ complementary portfolios, simplifying the corporate structure and reducing costs. The combined entity is expected to benefit from greater scale, improved liquidity and lower management fees, with a new tiered fee structure replacing existing arrangements.
Hansa, one of the oldest U.K. investment firms, has held a strategic stake in Ocean Wilsons for 66 years. Ocean Wilsons recently sold its majority stake in Wilson Sons S.A. to MSC Mediterranean Shipping Company, freeing capital for the merger.
Key Benefits
- Enhanced scale with over £900 million in combined net assets.
- Lower management fees, dropping from 1% to 0.7-0.8% of net asset value.
- Improved liquidity for shareholders.
- Simplified structure, consolidating two portfolios under one listed entity.
- New capital allocation policy, including share buybacks of 2-4% annually.
If approved, Ocean Wilsons directors Andrey Berzins and Christopher Townsend will join Hansa’s board. Hanseatic Asset Management LBG will oversee the combined portfolio.
Jonathan Davie, Hansa chair: “This merger represents a milestone in Hansa’s history, unlocking value and broadening our appeal.”
Caroline Foulger, Ocean Wilsons chair: “This combination is the best path forward for shareholders seeking global investment exposure.”
The deal requires approval from 75% of Ocean Wilsons shareholders and Hansa investors. A final agreement is expected after June 30 valuation adjustments.