NYK Completes Full Acquisition of Saga Welco

The Japanese shipping company NYK has completed the acquisition of Westfal-Larsen's stake in Saga Welco, gaining full control over the Norwegian operator of open cargo ships. The deal was closed on July 20 through NYK Holding Europe after receiving the necessary regulatory approvals.

Previously, NYK and Westfal-Larsen held equal shares in the business. The financial terms of the buyout have not been disclosed.