Ocean Network Express (“ONE”) has signed definitive agreements to acquire a 51% stake in each of TraPac LLC (“TraPac”) and Yusen Terminals LLC (“YTI”), currently held by Mitsui O.S.K. Lines, Ltd. and Nippon Yusen Kabushiki Kaisha respectively. TraPac is a container terminal operator and vessel stevedore that provides container terminal services in Los Angeles and Oakland. YTI is a container terminal operator and vessel stevedore that provides container terminal services in Los Angeles.
Source: Ocean Network Express