DFDS will sellmini-cruise route between Norway and Denmark to Swedish shipping companyGotlandsbolaget.The decisionwill ensure that the route receives the future focus and investments needed to further develop, while DFDS strengthensthe focus on its core business within freight,passenger transportand logistics.The sale price is around DKK 400m.
Today, DFDS has announced that the route between Oslo, Frederikshavn and Copenhagen (OFC) will be sold to Gotlandsbolaget. The sale includes the two vessels deployed on the route, port agreements and terminal equipment. As part of the sale, approximately 800 employees in route operations and support functions will also move to Gotlandsbolaget.
"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 andwill 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 withGotlandsbolaget," says Torben Carlsen, CEO of DFDS.
The OFC route is first and foremost a cruise experience route carrying more than 700.000 passengers between Norway and Denmark every year. The route fits well with Gotlandsbolaget's strategic focus
"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", says Håkan Johansson, CEO of Gotlandsbolaget.
Enabling strategic focus on core business
The sale of the OFC route reflects DFDS' strategic focus on providing transport and logistics services using combinations of ferry, road, and rail transport.
DFDS' ferry transport network hereafter consists of freight-only routes in the Mediterranean and on the North Sea and combined freight and passenger routes on the Baltic Sea, between the Netherlands and the UK, on the English Channel and on the Strait of Gibraltar. The ferry transport network is complemented by DFDS's European wide road and rail transport network and logistics services.
"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," says Torben Carlsen.
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.
When the transaction is finalised, DFDS will have 21 Danish-flagged vessels employing around 1.100 seafarers. In addition, DFDS employs over 1.000 people across more than 10 land-based offices, terminals and logistics sites in Denmark. After the transaction DFDS in total employs 13.200 people
The sale price is around DKK 400m 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.
Contact:
DFDS
Dennis Kjærsgaard Sørensen
Head of media relations
+45 4230 3847
Densore@dfds.com
Gotlandsbolaget
Karin Bill
Head of Communications, Gotlandsbolaget
+46 498 20 10 60
karin.bill@gotlandsbolaget.se
About DFDS
We operate a transport network in and around Europe with an annual revenue of DKK 28bn and 14,000 full-time employees. We move goods in trailers by ferry, road & rail and we offer complementary and related transport and logistics solutions. We also move car and foot passengers on short sea and overnight ferry routes. DFDS was founded in 1866 and is headquartered and listed in Copenhagen.
About Gotlandsbolaget
With Gotland as the base, Gotlandsbolaget invests in the shipping of the future and new technology, as well as develops sustainable destinations and places to visit. Gotlandsbolaget was founded in 1865 and is Sweden's oldest passenger shipping company, and ever since, Gotlandsbolaget has brought Gotland and the mainland closer to each other. The Group has 600 employees and is headquartered in Visby on the island of Gotland. Gotlandsbolaget is listed on Nasdaq First North, Sweden.
