DFDS takes over Norfolk Line

DFDS' acquisition of Norfolkline creates Northern Europe's leading sea-based transport network by combining two leading and complementary shipping companies. Combined pro forma revenues will be 1.5 billion euro in 2009 with an operating profit of 139 million and 6,200 employees.

"This is a perfect matc", says DFDS' CEO Niels Smedegaard.

"Norfolkline is a leading ferry and logistics company with a strong route network covering the North Sea, the Channel and the Irish Sea, combined with a considerable logistics operation. This means, that DFDS' network is expanded to include two new markets, the Channel and the Irish Sea, we can combine our operations on the North Sea, and our ability to secure volumes for the network is greatly strengthened. We both serve passengers and freight customers and can now provide transport solutions spanning the whole of Northern Europe - from Russia to Ireland", says Smedegaard.

"Through this acquisition we gain scale and come closer to our vision of building a European sea based transport network. The integration of our companies will generate considerable synergies and we expect this transaction to improve our earnings capability once the market recovers," says Niels Smedegaard.

"We are looking forward to becoming a major shareholder in DFDS and are convinced that the new company will create value for its owners", says Soren Skou, Partner and member of the Executive Board of A. P. Moller - Maersk.

"We are excited about the prospects for the new DFDS, delighted that A. P.Moller - Maersk has decided to become a major shareholder and we welcome Soren Skou to join DFDS' board", says Jens Ditlev Lauritzen, Chairman of the Board of Lauritzen Fonden, the largest shareholder in DFDS.

Source: DFDS / maritimedanmark.dk