Stolt-Nielsen Approves Move to Bermuda
Stolt-Nielsen S.A.’s meeting of shareholders saw a vote held on the proposed plan to migrate the location of the parent company to Bermuda from Luxembourg, where SNSA is currently registered.
Under the plan, which was recommended by the SNSA Board of Directors, SNSA and Stolt-Nielsen Limited, a recently formed Bermuda company wholly owned by SNSA, will merge and amalgamate with each other, effective November 18, 2010. The amalgamated company will be named Stolt-Nielsen Limited.
As announced by SNSA on July 12, 2010, Luxembourg’s special holding company regime will end as of December 31, 2010, as part of ongoing initiatives to harmonise laws and regulations among the member states of the European Union.
The company says the “move to Bermuda will enable SNSA and its shareholders to continue to benefit from a legal structure similar to that which SNSA has experienced as a holding company in Luxembourg since 1974.”
Stolt-Nielsen S.A. is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar.
