Lithuanian Commission Approves Deal Between Lisco and DFDS

Monday, April 16, 2001
Lithuania's Privatization Commission said on Friday it approved the sale contract of the state-run sea shipper LISCO to Danish DFDS Tor Line - sending the draft to cabinet. "The Privatization Commission approved the draft contract and now the government will have to make a decision," a Commission official said. The government has said the Danish group would spend $107 million to get LISCO. Sources close to the deal said DFDS offered to pay the government $47.6 million up front for a 76-percent stake in LISCO and then invest another roughly $60 million in the company over the next three years. Under the proposal, DFDS would take control of the company's RoRo ferry business and some dry cargo or tramp ships, and the government would retain the bulk of LISCO's tramp fleet and other assets. The government, eager to show foreign investors it is keeping its privatisation policy on track, said it wants to complete the sale by May 1, but local truckers and some opposition politicians are trying to halt the deal.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Salamander Energy Updates on SONA Transaction

Salamander Energy said it has submitted a draft shareholder circular to the Financial Conduct Authority in relation to previously stated plans to divest of an interest in the Greater Bualuang Area.

Mitsubishi: First-Ever Licensing Deal to Chinese for Marine Propellers

Mitsubishi Heavy Industries Marine Machinery & Engine Co., Ltd. (MHI-MME), a group company of Mitsubishi Heavy Industries, Ltd. (MHI),  concluded a licensing agreement

Nordic American Offshore Declares Dividend

Nordic American Offshore Ltd. today announced that its board of directors has declared a dividend of $0.45 per common share for the third quarter 2014. This is the same as for the second quarter 2014.

Ship Sales

Frontline appoints Macleod as new CEO

Crude oil tanker firm Frontline, part of shipping tycoon John Fredriksen's business empire, appointed Robert Hvide Macleod as chief executive to replace Jens Martin Jensen, the firm said on Monday.

Venezuela's PDVSA Puts Six Tankers Up for Sale

Venezuelan state oil company PDVSA said on Friday it is selling four crude tankers and two liquid petroleum gas (LPG) tankers that are currently inactive, amid a broader plan to modernize its fleet.

Maersk Supply Service Orders Six Offshore Vessels

Maersk Supply Service, a unit in Danish conglomerate A.P. Moller-Maersk, said on Thursday it has placed an order for six new large anchor-handling tug supply vessels from Kleven Maritime in Norway.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1355 sec (7 req/sec)