At a meeting on 31 August 2000 in Copenhagen DFDS
Tor Line A/S and B.B. Bredo B.V. entered into a basic
agreement on how the companies will proceed their mutual
negotiations with the Lithuanian State Property Fund on the
privatisation of 75% of the Lithuanian Shipping Company;
LISCO.
The agreement is based on a Letter of Intent which was
signed by the parties earlier in August and which aims at
dividing LISCO into two separate divisions, since the
interests of DFDS Tor Line is related to the Ro/Ro and
Ro/Pax activities only, whereas B.B. Bredo B.V. - a
consortium consisting of the Israeli company; Gadot Yam
Ltd., among others - is interested in the remaining
activities of LISCO.
Yours sincerely,
DFDS Tor Line
Peder Gellert
Business Area Manager
For further information please contact: Thorleif
Blok, CEO, at phone +45 3342 3200.