Saughter and May is advising Wilson Sons S.A. (“Wilson Sons”) and the Antares Naviera division of the Ultranav group (“Ultranav”) on the all-cash disposal of their respective joint venture interests in Wilson, Sons Ultratug Participações S.A. and Atlantic Offshore Services S.A. (together, “WSUT”) to NYSE-listed Tidewater Inc. at an enterprise value of approximately US $500mn. The transaction is expected to complete late in Q2 of 2026 and is conditional on the receipt of applicable regulatory clearances and other customary conditions to completion.
Wilson Sons is one of the largest providers of maritime services in Brazil, with activities including towage, container terminals, offshore oil and gas support services, small vessel construction, logistics and ship agency.
Ultranav is a privately owned group of shipping companies, headquartered in Chile, with a collective fleet of over 400 vessels and an operational presence in 20 countries, focussed on providing efficient and safe maritime transportation services across five segments of this market.
WSUT was established as a 50:50 joint venture between Wilson Sons and Ultranav and is a leading offshore maritime support provider in Brazil with a fleet of 22 offshore support vessels, of which 19 are Brazilian-built.