April 27, 2017 / 6:29 PM / 4 months ago

BRIEF-Wilhelmsen acquires Drew Marine Technical for about $400 mln

April 27 (Reuters) - Wilh Wilhelmsen Holding ASA

* Wilh. Wilhelmsen Holding ASA: Wilhelmsen acquires Drew Marine Technical

* Deal for USD 400 million

* Acquisition is expected to result in a USD 150 million increase in annual total income for Wilhelmsen ships service.

* Transaction will be financed by using existing credit facilities, available cash and new facilities

* About 400 Drew Marine employees will join Wilhelmsen ships service upon completion of transaction

* If approval from relevant bodies is not received, parties have agreed on a termination fee of usd 20 million

* Acquired business will be brought into Wilhelmsen ships service once transaction is complete

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