DFDS acquisition of port terminal approved

PORTS: The EU Commission has approved DFDS and C.RO Ports S.A. joint acquisition of Älvsborg Ro/Ro AB, including the company’s 25 year concession agreement concerning the operation of the ro-ro port terminals Älvsborg and Arendal in Gothenburg.

As previously announced, the acquiring company is a joint company of which DFDS A/S owns 65% and C.RO Ports S.A. 35%. Älvsborg Ro/Ro AB will become part of DFDS with effect from 1 January 2012.

Älvsborg Ro/Ro AB has about 280 employees and revenues for 2012 are expected to amount to about SEK 500m of which around 50% concerns DFDS.

The port terminal has seven ro-ro berths and the total terminal area is 463.000 m2. The three most important shipping customers of the terminal are today DFDS Seaways, Cobelfret S.A. (a subsidiary of CLdN) and Transatlantic. The latter two shipping companies provide shipping services to Stora Enso Logistics.

DFDS and CLdN will in the coming years seek to attract new customers from both the North Sea and the Baltic based on the port terminal’s central geographical location in Northern Europe.

DFDS has previously announced an expectation of unchanged revenue in 2012 compared to 2011. The acquisition of Älvsborg Ro/Ro AB is expected to increase DFDS’ revenues by around DKK 200m in 2012 compared to the previous expectation. No material impact is expected on earnings in 2012.

Source: DFDS / maritimedanmark.dk