The acquisition by Danzas is subject to the Irish
Monopolies & Mergers Commission's approval.
DFDS acquired Meadowsfreight as a consequence of the
Co-operation Contract established between DFDS and Danzas
in October 1998. Prior to the DFDS acquisition Danzas held
20% of the shares in Meadowsfreight, who had been Danzas'
Irish partner for more than 25 years.
DFDS sees the divestment of Meadowsfreight a a natural
consequence of the termination of the Danzas/DFDS
Co-operation Contract. The sale of Meadowsfreight is
expected to have no impact on the 1999 result for DFDS.
DFDS Transport (Ireland) Ltd. continues as the DFDS Dan
Transport Group network partner in Ireland. The company has
a yearly turnover of IEP 32 mill and a staff of 140 with
head office in Dublin an branch offices in Limerick and
Belfast.
DFDS Dan Transport Group A/S has an annual turnover of
DKK 15 bn. and employs 9,000 staff with a strong presence
in the Nordic area, the UK, Benelux and Ireland.