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Merger of DFDS and Norfolk Line approved
DFDS has completed the acquisition of ferry operator Norfolkline, following EC approval.
The Danish shipping group has increased its estimate for the cost synergies the deal will bring to DKr180-220 million (US$30-36m) from DKr135 million.
Since DFDS announced the acquisition of Norfolkline from AP Møller Maersk in December 2009, it has been working on an integration plan it estimated would be complete by the end of 2012, with the combined company comprising two divisions: Shipping and Logistics.
“The Shipping division will comprise freight and passenger routes and port terminals, while the Logistics division will consist of trailer, container and port-side activities,“ said DFDS.
“These two market-oriented divisions will be supported by two resource units: People and Ships, to ensure efficient management of operational resources, and Finance,” it added.
DFDS said the EC approval was contingent on replacement of existing space charter agreements with Norfolkline on the Esbjerg-Immingham/Harwich routes by an agreement with an independent party – which, said the line, it hoped would be Stena.
Source:
DFDS press release and
IFW