Dfds Tor Lines News

Danish DFDS Tor Lines is committed to considering a minority share buyout as part of the privatization of Lithuanian shipper LISCO, but did not specify a price. "In the sale and purchase contract with the government we have committed ourselves to consider offering a bid for the minority-owned shares," Peder Gellert-Pedersen, deputy director of DFDS Tor Lines, said. The government is in talks with DFDS Tor Lines to sell roughly 75 percent of LISCO to the Danish firm. The government has said it expects DFDS to pay roughly 200 million litas ($50 million) for the stake and invest another 350 million litas into the company. "For DFDS it would be a natural thing, but there's no commitment," Gellert-Pedersen added. In the previous attempt to privatize LISCO, the bidder, the Dutch B.B.

Danish sea shipping company DFDS Tor Line bought a majority stake in Lithuanian shipping line LISCO for $47.6 million to bolster its presence around the Baltic Sea. "We can use LISCO... to build a very strong base in the Baltic Sea... We also have to look at the Russian traffic," DFDS General Manager Ole Frie said. Lithuania's State Property Fund earlier said it signed a deal with DFDS to sell a 76.36 percent stake in LISCO to DFDS. The Danish company also agreed to invest another $60 million in LISCO over three years. "DFDS Tor Lines -- under the name of LISCO -- will operate six RoRo and RoPax vessels... plus six comparatively new multi-purpose LoLo vessels," the company said. LISCO shares closed 2.34 percent lower on Monday while the benchmark index ended down 2.25 percent.