Moll Wendén has assisted Atlantic Container Line AB (ACL) in connection with a legal reorganization involving two cross-border mergers. The mergers were among the first cross-border mergers, involving a Swedish absorbing company, to be carried out in Sweden since the implementation of the Directive 2005/56 on cross-border mergers in Swedish law.
Through the mergers, the Belgian subsidiary Atlantic Container Line Benelux BV and the Dutch subsidiary Atlantic Container Line Europe BV were absorbed by the Swedish parent company. The business of the subsidiaries will after the mergers instead be conducted through local branch offices. The mergers are part of a more comprehensive reorganization strategy within ACL, to concentrate all ACL’s operations in one single legal entity.
ACL is a leading shipping company and a specialized carrier of containers, oversized cargo, heavy equipment and vehicles. ACL is among the most reputed market operators on the North Atlantic trade and currently deploys the world’s five largest roll-on/roll-off Containerships. ACL is a member of the international shipping and freight group Grimaldi.
Moll Wendén has been responsible for the corporate legal advice regarding the Swedish side of the mergers and has coordinated the implementation of the project, which also involved advisors from Belgium and the Netherlands.