Silk Bidco Wants Rest of Hurtigruten’s Shares

Silk Bidco Wants Rest of Hurtigruten's Shares

Silk Bidco AS, a joint venture indirectly owned by Home Capital AS , Periscopus AS and investment funds managed by TDR Capital  LLP, has made a voluntary cash offer for 100% of the shares in the Norwegian ferry and cruise company Hurtigruten ASA, where the joint venture already controls approximately 55.87% per cent of the share capital.

Under the terms of the offer, Hurtigruten shareholders will receive NOK 7.00 per share, valuing the total share capital of Hurtigruten at around NOK 2,940 million (USD 442.3m).

Petter A. Stordalen of Home Capital and representing Silk Bidco, said: “We are excited by the opportunity to accelerate the growth of the business, building on its strong platform in the Nordic region, investing across the fleet and, crucially, continuing to deliver a world class experience to passengers.

The owners of Silk Bidco know Hurtigruten and its management and employees well. We appreciate its achievements as a reliable service provider to people, business and communities along the Norwegian coast. We are also impressed by the company’s growing success in international travel and tourism. Our plan is to build on all these elements and create an even greater company for the future.”

TDR, Periscopus and Home have established Silk Bidco as a joint venture vehicle owned through an indirect parent company of Silk Bidco  for the purpose of making the offer and have entered into an investment agreement to regulate the terms of the joint venture.

The independent members of Hurtigruten’s board of directors have unanimously decided to recommend that its shareholders accept the voluntary cash offer from Silk Bidco AS for all outstanding shares in the company.

Press Release

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >