The Danish ferry and RoRo operator DFDS has announced that the route between Oslo, Frederikshavn and Copenhagen (OFC) will be sold to Swedish based Gotlandsbolaget.
The sale includes the two vessels deployed on the route, port agreements and terminal equipment, and as part of the sale approximately 800 employees in route operations and support functions will also move to Gotlandsbolaget.
The OFC route is first and foremost a cruise experience route carrying more than 700.000 passengers between Norway and Denmark every year, and the two vessels “Crown Seaways” and “Pearl Seaways” will not be reflagged in connection with the transaction and no layoffs are planned as part of the transfer of the route.
The sale price is around DKK 400m (about USD 57.7 million) and the agreement which also includes a potential earn-out payment is expected to be closed in October 2024.
The completion of the transaction is subject to customary closing conditions while no regulatory approval conditions apply.
The route fits well with Gotlandsbolaget’s strategic focus, and Håkan Johansson, CEO of Gotlandsbolaget, says that “We see great potential in this business. The route is performing well today, and together with our new colleagues, we will both work to ensure continuity and develop the product. This is yet another step in our strategic direction to expand in passenger shipping.”
Torben Carlsen, CEO of DFDS, says that “The route is a part of our history and heritage, and it is with a heavy heart that we have found a new home for the route and will be saying goodbye to a lot of valued colleagues. We have determined this to be the best way forward for all. We have grown and developed significantly over the years, and the route deserves to be in the hands of an owner with cruise experience as a core part of their strategy going forward. We are happy to have found that with Gotlandsbolaget,” and he adds that “The decision to sell the OFC route has been difficult. We believe it is the right decision and right timing for both the route and DFDS. Going forward we will focus on our core business activities within freight, logistics and transport passengers as we continue to execute on our Moving Together Towards 2030 strategy unlocking the potential of our transportation network.”
Source: DFDS
