Wilhelmsen and Wallenius have signed a letter of intent to establish a new ownership structure for their jointly owned investments. The letter of intent states that the parties will combine their ownership in the jointly owned entities Wallenius Wilhelmsen Logistics (jointly owned 100%), EUKOR Car Carriers (jointly owned 80%) and American Roll-on Roll-off Carrier (jointly owned 100%) in a new entity to be named Wallenius Wilhelmsen Logistics ASA. In addition, the parties have agreed to merge the ownership of the majority of their vessels and affected assets and liabilities. The new entity, Wallenius Wilhelmsen Logistics ASA, will form a more efficient management structure and enable further synergies between the joint ventures. Craig Jasienski, currently CEO and president of EUKOR Car Carriers, will be appointed CEO for the new entity.