الاثنين، 28 ديسمبر 2009

AP Moller-Maersk offloads Norfolkline

DFDS has agreed to acquire 100% of ferry and logistics company, Norfolkline, from AP Moller-Maersk for €346 million.
The transaction includes the AP Moller-Maersk Group obtaining 28.8% of the shareholding in DFDS.
In addition, AP Moller-Maersk will buy shares in DFDS from Lauritzen Fonden, bringing the Group's total shareholding in DFDS to approximately 31%.

The deal excludes two of Norfolkline's vessels, which AP Moller-Maersk has agreed to sell to another buyer.
The combination of Norfolkline and DFDS will create Northern Europe's leading ferry operator, spanning from Russia to Ireland, with a fleet of 73 vessels.

The deal will enable DFDS to secure volumes through a much wider logistics network and strategic port access.

The key focus areas for the new company during the initial integration phase will be to generate revenue growth through wider market coverage, to consolidate ro-ro shipping and port terminal operations on the North Sea and to improve capacity utilisation of the route network.

Under the shareholders' agreement, AP Moller-Maersk has the right to nominate one member to the DFDS board of directors, and intends to nominate Søren Skou.

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