DFDS Seaways acquires Norfolkline

DFDS Seaways has announced the acquisition of Norfolkline in a €346 million (£308 million) cash and share agreement.

The deal creates what DFDS Seaways describes as "northern Europe's leading sea-based transport network".

Total revenues generated by the two companies will be around €1.5 billion in 2009, while their new combined workforce consists of some 6,200 employees.

Niels Smedegaard, chief executive of DFDS Seaways, said his company is a "perfect match" with Norfolkline.

He added: "Norfolkline is a leading ferry and logistics company with a strong route network covering the North Sea, the English Channel and the Irish Sea, combined with a considerable logistics operation.

"This means that DFDS' network in the Baltic Sea and the North Sea is expanded to include two new markets, the Channel and the Irish Sea."

Mr Smedegaard went on to say that passengers will benefit from improved services as a result of the deal.

DFDS Seaways currently operates ferries to Amsterdam from Newcastle, as well as a Harwich to Esbjerg ferry link.

Norfolkline's services include the Liverpool to Belfast and Dover to Dunkerque ferry routes.

Posted by Andrew Smith

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