Taylor Maritime Investments (TMI) has signed a transaction implementation agreement to acquire Singapore-based Grindrod Shipping Holdings.

This deal values bulker owner Grindrod Shipping at approximately $506m.

Via its wholly-owned subsidiary Good Falkirk, TMI made a voluntary conditional cash offer for all of the issued ordinary shares in the capital of Grindrod Shipping.

Good Falkirk first purchased a 26% ownership stake in Grindrod Shipping in the fourth quarter of last year.

In August this year, TMI placed a non-binding indicative proposal to acquire 100% of the outstanding shares of Grindrod Shipping, which is not already owned by Good Falkirk.

As per the terms of the implementation agreement, Grindrod will secure $21.00 in cash for each share tendered in the offer.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Grindrod also agreed to pay a special dividend of $5 per share to its shareholders.

The transaction value of $26 per share is said to represent a 26.8% premium to the last traded price per share on 26 August this year.

Grindrod Shipping is the owner and operator of a diversified fleet of owned, long-term and short-term chartered-in drybulk vessels, mainly in the categories of handysize and supramax/ultramax.

The company manages its drybulk business under the brand Island View Shipping, including a core fleet of 31 vessels consisting of 15 handysize drybulk carriers and 16 supramax/ultramax drybulk carriers.

Grindrod Shipping has offices in London, Durban, Tokyo, and Rotterdam, as well as Singapore.

Ship Technology Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Ship Technology Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now