Owned by Lys-Line AS, the shipping company’s fleet
includes eight side port vessels and container ships, three
of which have been delivered over the past three years. In
addition, Lys-Line Rederi AS currently uses 10 other
vessels on a time-charter basis, primarily container ships.
The shipping company has contracted all 18 ships on a
five-year time charter to Lys-Line AS.
The purchase price for the 66% shareholding amounts to
approx. NOK 150 million.
The reconstruction of DFDS Tor Line’s Norwegian ro-ro
routes included a space-charter agreement with Lys-Line AS,
after which DFDS Tor Line purchased container capacity on
Lys-Line AS’ route between Oslo Fjord and Rotterdam.
DFDS Tor Line has purchased the shareholding in order to
boost the shipping synergies between DFDS Tor Line’s ro-ro
vessels and Lys-Line Rederi AS’ side port vessels and
container ships. The move will give both parties the
opportunity to meet Norwegian market expectations for
solution models incorporating several shipping concepts.
Another advantage is the cost savings to be made from
combining shipping operations.
In conjunction with the conclusion of the deal, the
shipping company will change its name to DFDS Lys-Line
Rederi AS. Lys-Line AS will continue to own the remaining
34% shareholding in the shipping company.
As it does not become effective until 1 January 2002,
the acquisition will have no impact on DFDS A/S’ result for
the current year.
Implementation of the deal is contingent on a due
diligence investigation, expected to be completed by the
end of March 2002. The transaction will thus not be
finalized until then.
The purchase agreement will not otherwise affect DFDS
Tor Line’s and Lys-Line AS’ routes, customers or commercial
activities. The operations of the two companies’
organizations and agencies will therefore continue
unchanged, both in Norway and abroad.
Sincerely,
DFDS A/S
Ole Frie
Presiding Director