Bermuda-based marine contractor Dockwise Yacht Transport (DYT) is planning to merge its operations with Yacht Path International to establish extra capacity capable of transporting any yacht to any destination around the world.
The merger will widen the scope of services offered to shipyards, brokers, charter companies and private owners, according to DYT.
DYT’s role in the agreement will involve supplying Float On/Float Off transportation for big yachts up to 200ft on its four submersible yacht carrier ships.
Yacht Path’s part in the merger includes Lift On/Lift Off transportation for up to 80ft small- and medium-sized yachts aboard ocean-going container and cargo vessels.
The merger will be achieved through DYT’s acquisition of Yacht Path’s total issued share capital. Consequently, Yacht Path’s stakeholders would obtain a $3m initial cash consideration.