Ferry Company Scandlines Not for Sale

MarineLink.com
Friday, November 08, 2013
Scandlines Ferry: Photo credit the owners

The owners of Scandlines, 3i and Allianz Capital Partners, change their minds on selling the former Danish-German state shipping company. Instead 3i buys its partner Allianz Capital Partners out of the company and will become the new sole owner.

"Scandlines is a successful and profitable business , as we have learned to know over the past six years. We are pleased to invest further in order to support management in the execution of Scandlines' future plans and take full advantage of its growth potential," said Peter Wirtz , partner and managing director of 3i Germany.



3i and funds managed by 3i pay a total of 165 million euros to take over ACP's stake of 49 percent of Scandlines . The transaction is expected to be completed by year end.



"We would like to thank the ACP for their efforts over the past six years. ACP and 3i has actively taken part in the development of our business and played a key role in the success and growth that our company has undergone in the period. We look forward to building on the progress and ensure a leading market position in 3i's full ownership," says Søren Poulsgaard Jensen , CEO of Scandlines .



As part of 3i's acquisition of ACP's stake Scandlines has refinanced its existing loans into a new single loan agreement for 875 million euros.



" Since the acquisition in 2007 , Scandlines was transformed from a complex state-owned enterprise with a limited strategic aim for a modern and efficient ferry company with a focus on the most profitable short ferry. The company now has a good starting point to pursue its growth strategy and realize its full potential," says Jörg Spanier , CEO of Allianz Capital Partners.


 

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Keppel T & T Appoints Lim Chin Leong to its Board

Keppel Telecommunications & Transportation Ltd (Keppel T&T) has strengthened its Board with the appointment of Mr Lim Chin Leong as an independent, non-executive

Dool to Serve as Chair of SLSMC Board

The St. Lawrence Seaway Management Corporation (SLSMC) announced that Tim Dool has been named as Chair of the Board of Directors, effective September 1. Dool was

Bollore First Half Boosted by Transport, Advertising Unit

French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas,

Contracts

Skangass Granted Permission for LNG Terminal

The Swedish Government (Länsstyrelsen in Dalarnas Län) has granted Skangass permission to build and operate a new Terminal for LNG (Liquefied Natural Gas) within the harbour in Gävle, Sweden.

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

Telemar to Supply Broadband for Herm. Dauelsberg

Telemar GmbH, the German subsidiary of the Telemar Group, closed an agreement with Herm. Dauelsberg for the supply of a complete “turn-key solution” for their fleet of 18 vessels.

Finance

Brazil Presidential Candidate Silva Moots Price on Carbon

Brazilian presidential candidate Marina Silva plans to put a price on greenhouse gas emissions and implement a national carbon market if elected, according to policy proposals released on Friday.

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

Athabasca Completes Dover Stake Sale to PetroChina

Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PertroChina Co Ltd for $1.18 billion.

Ferries

Ferry Runs Aground in Lynn Harbor

Ferry Cetacea ran aground about a quarter of a mile from the pier in Lynn Harbor, Massachusetts yesterday, with 13 passengers and four crew aboard, the U.S. Coast Guard (USCG) reported.

Federal Officials Approve Plans to Replace Mukilteo Terminal

The 60-year-old Mukilteo Ferry Terminal is one step closer to replacement. On Friday, Aug. 22 the Federal Transit Administration signed a record of decision allowing

New Double-ended Ferry for Norderney

New double-ended ferry serving the North Sea island of Norderney – Safe and eco-friendly maneuvering in shallow, high-sediment water using Voith Schneider Propellers Ferries

 
 
Maritime Careers / Shipboard Positions Navigation Offshore Oil Pod Propulsion Port Authority 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: 0.2109 sec (5 req/sec)