The shareholders of Atlas Services Group Holding B.V. have reached an agreement with HAL Investments B.V. (“HAL”) as a result of which HAL will acquire a 45% participation in Atlas Services Group Holding B.V.
The history of HAL (Holland America Line) dates back to 1873, when their activities consisted of transporting passengers and freight to and from America. In 1989 HAL sold their cruise division and went forward as an investment company. The ultimate parent, HAL Trust, has a listing on NYSE Euronext in Amsterdam and has a net asset value of approximately €5.9 billion.
The sale is still subject to the usual terms and conditions for this type of transaction, including approval by the Dutch Competition Authority (NMA). It is expected that the transaction will be completed during the 2nd Quarter of 2011.