Sale of Scandlines on the Cards

Image Courtesy: Scandlines

Rothschild investment bank has been mandated to explore the potential sale of the Danish ferry operator Scandlines, sources close to the matter confirmed to World Maritime News.

The company is said to be worth around GBP 600 million (USD 801.1 million), based on market estimates.

The ferry operator is owned by private equity investor 3i Group and Eurofund V which hold 96 percent of the firm.

Scandlines operates two high-frequency routes between Germany and Denmark (Puttgarden-Rødby and Rostock-Gedser).

However, the sale could be hampered by the construction of Fehmarn Belt Fixed Link immersed tunnel between Denmark and Germany which is intended for rail and road transport.

Once the tunnel is completed in 2021, Scanlines is likely to lose a considerable portion of its passengers to the tunnel.

In July this year, the company said that it had completed a EUR 862 million (USD 1.01 billion) refinancing comprising of a six-year bank tranche, an 11-year institutional tranche and associated revolving credit and liquidity facilities.

The company operates a fleet of eight ferries, with more than 42,000 departures annually.

World Maritime News Staff

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