NorFerries Eyes Silja Line

Wednesday, May 17, 2006
Norwegian shipping investment company NorFerries said it wanted to buy Finnish ferry company Silja Line from US-stocklisted Sea Containers. Silja Line runs ferries in the Baltic, mostly from Helsinki to Sweden and Estonia. The ferry line carried around five million passengers last year. NorFerries, known mostly for setting up routes for cargo ships and passenger ferries, is offering $671m for Silja Line. Bermuda-based Sea Containers said last year that it wanted to sell off Silja Line and its other ferry operations to stem losses. NorFerries' bid is expected to be challenged by Silja Line's rivals in the Baltic, Tallink and Viking Line. Both have said they're interested in buying Silja as well. (Source: Aftenposten)
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