27.03.2008 - GAC buys UK agency

Ship agency giant GAC has snapped up UK partner OBC in an “amicable acquisition.”

The UK shipping and logistics group will become GAC-OBC from 31 March after the Middle East agency agreed to buy 100% of the company. No price was disclosed.

It will continue to handle vessels in ports throughout the UK, Netherlands and US Gulf coast.

"There is a strong strategic fit between GAC and OBC," says Lars Heisselberg, GAC’s group vice president.

“Besides giving us an important foothold in the port of Rotterdam and complementing our existing US operation, OBC is strong in North Sea oil and gas and this is a sector where GAC has long term development interests.”

OBC became part of GAC’s global agency network in 2005.

It was set up in 1979 in Teesside in North-east England, focusing on tankers and offshore.


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