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Dover ferry operator sold for $498m

Posted by editor on Dec 18, 2009 - 10:40 AM
Filed under: Shipping, News

News


Danish shipping and oil group A.P. Moller-Maersk is to sell its Norfolkline ferry unit to DFDS for cash and shares worth about 346 million euros.
 

It is understood the deal would give Maersk a 31 percent stake in ferry operator DFDS plus 170 million euros in cash.

"The sale of Norfolk Holdings B.V. is expected to be completed in the second quarter of 2010" Maersk said.

Norfolkline Chief Executive Niels Smedegaard is reported saying that the deal would boost Norfolkline's position as a ferry and freight operator in northern Europe, adding operations in the English Channel and the Irish Sea to its North Sea base.


© Hawkinge Gazette and Channel Coast News 2009

 


 

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