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 May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

WCI Applauds Increased USACE Funding

Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee

SoCal Beach Cleanup Could Take Months

The U.S. Coast Guard captain overseeing cleanup of oil spilled from a pipeline rupture that closed two California state beaches and fouled offshore waters near

MPC Honors Crowley for Tank Vessel Safety

Crowley Maritime Corporation’s petroleum services division has once again been honored by Marathon Petroleum Company (MPC) with its annual Elite Vessel Award, which

Contracts

DMW Marine Takes the Lead in Military Cranes

DMW Marine Group, LLC. has completed a number of projects for the U.S. Navy and foreign Navies in recent years, claiming a place as a go-to supplier for Navy departments globally.

Shipping Freight Rates Drop Amidst Overcapacity

Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility

Two ASC Kalmar Cranes for DP World Brisbane

Kalmar, part of Cargotec, has received an order from DP World Australia to deliver two new Kalmar automatic stacking cranes (ASCs) for its semi-automated terminal in Brisbane.

Finance

US Funding for Air Emissions/Alternative Energy Projects

The U.S. Maritime Administration (MARAD) announced that up to $1.3 million in Federal funding is now available through cooperative agreements for projects supporting

WCI Applauds Increased USACE Funding

Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee

Shipping Freight Rates Drop Amidst Overcapacity

Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility

Ferries

Electric & Hybrid Propulsion Ordered fir CMAL Ferry

Imtech Marine informs it has been awarded a third contract to supply the electric and hybrid propulsion system for a hybrid ferry operated by Caledonian Maritime Assets Ltd (CMAL) of Scotland.

Ferry Firm DFDS Looks to Expand

Danish ferry and transportation firm DFDS is on the takeover trail, its chief executive said, after reporting its highest first-quarter operating profit on record

New Ferry Service to Long Island

A new intermodal service for the Tri-State area offers a transportation alternative linking New York City, New Jersey and Connecticut with Long Island.   The new service,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.2293 sec (4 req/sec)