The Israeli-owned B.B. Bredo B.V. has entered into an
agreement regarding acquisition of 75.1% of the state-owned
Lithuanian shipping company LISCO, Lithuanian Shipping
Company.
In connection with this, DFDS A/S (DFDS Tor Line) has
entered into an agreement in principle with B.B. Bredo
B.V., the aim of which is to divide LISCO into two
independent areas. DFDS Tor Line’s interest in LISCO is
exclusively the ro/ro – ro/pax division, while B.B. Bredo
B.V., which is a syndicate consisting of the Israeli Gadot
Yam Ltd., among others, is interested in the remainder of
LISCO’s activities.
A final agreement between DFDS Tor Line, B.B. Bredo
B.V., and the Lithuanian state is expected within six
weeks.
DFDS Tor Line’s investment will be USD 25 million, and
it is not expected that the investment will have any effect
on the result for 2000.
Within the above-mentioned six-week period more
information will be released regarding the contents of the
agreement.
Yours sincerely,
DFDS A/S
Chr. Merrild