CP Ships and Dannebrog Agree To End Nordana

CP Ships and Dannebrog Agree To End Nordana Acquisition

Friday, December 14, 2001

CP Ships and Dannebrog have decided not to proceed with the planned acquisition of Nordana Line by CP Ships. In the month since the acquisition plan was announced on November 14, further discussions revealed a number of issues that prevented the transaction from being completed to both parties' satisfaction. CP Ships remains committed to its strategy of making selective acquisitions to reinforce its position in its principal regional markets.

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