Marine Gas Markets News

Wärtsilä Corporation reached agreement with the Board of Hamworthy plc, a UK listed engineering company focussed on the marine and oil and gas sectors, in regards to a recommended cash offer for the acquisition of Hamworthy. Under the terms of the acquisition Hamworthy shareholders will receive 825 pence in cash for each Hamworthy share valuing Hamworthy's entire issued and to be issued share capital at approximately GBP 383 million. This represents an EV / LTM EBITDA multiple of 14.3x as per 30 September 2011. The acquisition is conditional on the approval by the shareholders of Hamworthy.