DFDS acquires Norfolk Line Containers
published: cw 33, 2006 in Mergers & acquisitionsDFDS A/S agreed with Dutch Norfolk Holdings B.V. to acquire 100% of one of its subsidiaries, Norfolk Line Containers B.V., operating container shipping activities between the Continent and Ireland. Norfolk Holdings B.V. is a member of the A.P. Moller ? Maersk Group. The parties have agreed not to disclose the purchase sum.
The acquisition is made to strengthen the DFDS Tor line market position within the lo-lo container shipping segment, thereby obtaining synergies between the existing DFDS Tor Line container activities in DFDS Lys Line and DFDS Suardiaz Line. These companies have services plying the North Sea, the Irish Sea and Spain. The acquisition thus complements existing network of services, thereby improving DFDS Tor Line?s geographical market coverage, and it offers growth and increased operational flexibility.
A prerequisite for the completion of the transaction is approval by the relevant authorities.
Norfolk Line Containers B.V. operates six chartered lo-lo container ships serving two routes between Rotterdam and ports in Ireland. The company provides some 2400 containers - of which the main part is owned 45 feet containers ? including some 500 reefer containers. The major part of the cargo transported is own door/door service between the European continent and Ireland.
As the completion of the transaction is subject to approval by the relevant authorities, the acquisition is expected to have a minor, positive impact only on profits in the fourth quarter of 2006.
The market will be informed of the future name of the shipping company under the ownership of DFDS Tor Line once the transaction has been finalised.
Source: DFDS Torline
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