Cargotec’s board of directors has decided to initiate a sales process for its Navis software business.
In March, Cargotec announced it would undertake a strategic evaluation of Navis with a potential sale of the business. On 1 October, Cargotec said it would continue to evaluate the strategic options of Navis, which included new ownership structures or a potential sale.
Cargotec explained: “As part of the evaluation of options, a preliminary call for tenders was conducted. The amount and level of the received preliminary and indicative offers suggest that proceeding with a sale is a better possible option for Cargotec and Navis than other presented solutions. Consequently, Cargotec’s Board of Directors has decided to initiate the actual sales process of the Navis software business.”
The preliminary indicative offers are not binding and the possible sale of the Navis software business and the terms of the transaction will only be confirmed once the actual sales process has been completed. Cargotec aims to complete the sales process during the first half of 2021.
Cargotec’s other software business is not part of the Navis software business evaluation.
