NETWORK EXPANDED BY JOINT VENTURE WITH LOUIS DREYFUS ARMATEURS
DFDS and Louis Dreyfus Armateurs enters into an agreement to form a new company combining DFDS Channel and LD Lines ferry operations
DFDS and Louis Dreyfus Armateurs (LDA) have today entered into an agreement to form a new company combining DFDS Channel operations and LD Lines ferry operations. The new company is expected to start operations with effect from 1 July 2012.
DFDS ownership share of the new company will be 82% and LDA will own 18%. The following routes will be included in the new company: LD Lines is a French ferry company and a 100% owned subsidiary of LDA. LD Lines was established in 2003 and currently operates four routes of which one route, St. Nazaire-Gijon, will not be included in the joint venture. LD Lines will transfer four chartered ships and one owned ship to the joint venture.
Strategic fit The joint venture with LDA expands and consolidates DFDS route network, and further leverages DFDS operating model.
By combining the capabilities and operations of LD Lines and DFDS, a new and stronger company is formed, that is well positioned to defend and grow its customer services on the competitive Channel market.
The new company expands DFDS route network in line with DFDS strategy of creating a European shipping and logistics network.