USTC Acquires Full Ownership Of CM Biomass
United Shipping and Trading Co. (USTC) has completed the acquisition of all remaining shares in CM Biomass, thereby becoming the sole owner of the biomass company.
In 2021, the family-owned USTC acquired a majority stake in CM Biomass as part of a long-term strategy to gradually increase its ownership in the company. In the autumn of 2024, USTC’s ownership share was increased to 89%, and the strategy has now been executed with the acquisition of the remaining 11% of CM Biomass.
“Our decision to acquire a majority stake in CM Biomass in 2021 was founded on a solid business case and a clear understanding of the synergies the company could bring to the USTC Group. It has proven to be the right move. The strong potential of CM Biomass and the close collaboration across the Group continue to reinforce our overall strategy. We are very pleased to now hold full ownership of CM Biomass,” says Nina Østergaard, CEO and co-owner, USTC.
The acquisition of the remaining shares was planned as part of the original agreement. When USTC entered as majority owner in 2021, it was agreed that Copenhagen Merchants Group, the founder and previous owner of CM Biomass, would retain a minority share until the end of 2025. USTC has now acquired these shares.
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