Credit Mutuel‑RES Consortium Acquires Cargo‑sailing Pioneer TOWT, Rebranding as New TOWT

Deal Summary

French cargo‑sailing pioneer TOWT is being acquired by a Credit Mutuel‑RES consortium after a court‑approved takeover following its bankruptcy filing in March. The combined entity will operate under the name New TOWT with four vessels shipping coffee on the Normandy‑to‑Brazil route. The deal terms were not disclosed.