Further to the previous announcement (5 November 2019) PwC and Tiang & Partners were commissioned by CargoSmart Limited, a leading logistics technology solutions provider, to facilitate a strategic collaboration between nine industry-leading ocean carriers and terminal operators. CargoSmart has announced the signing of a shareholders’ agreement between the nine parties indicating their intention to become shareholders of the proposed Global Shipping Business Network (GSBN) joint venture subject to regulatory filings and approvals to be obtained before the GSBN is launched.
PwC has provided project manager and facilitator services. PwC Australia Legal and Tiang & Partners have provided corporate advisory, regulatory advisory and contract preparatory support services. In particular, competition law analysis, preparation of regulatory filings and relevant documentation, including the shareholders’ agreement and related technology licensing and service agreements. In this context, PwC Australia Legal acted as subject matter expert and provided commercial input.
James Chang, PwC China Consulting Leader, said, “We are excited to have helped nurture this project from its beginning, since 2018, and to see that it is now coming to fruition and changing the landscape of the shipping and other industries. At PwC, we embrace digital transformation and this project is a clear demonstration of how our integrated capability, from strategy to technology to legal, can help address challenges in respect of the evolving collaborative economy and turn technology disruption into new business opportunities. This matter also highlights our ability to lead complex transactions involving numerous parties on ground-breaking initiatives.”