The German competition authority, Bundeskartellamt, has approved the deal between Stena Line and Scandlines Deutschland GmbH, which was presented 30 May, for the acquisition of five ferry routes between Sweden and Germany to Latvia. The acquisition is part of Stena Line's strategy to expand into growth markets and it is expected to be completed by the end of August.
"The approval from the German competition authority, Bundeskartellamt, is an important step forward in this process. We are now making the acquisition and it is expected to be completed during August," says Gunnar Blomdahl, CEO for Stena Line.
The background to the acquisition is the strong growth in sea transports to and from northern Europe and the Baltic States, which is expected to show continued growth. The new routes to the Baltic States complement Stena Line's existing network and strengthen the offering for both freight and passenger services. The acquisition is part of Stena Line's strategy to expand into growth markets and it is expected to be completed by the end of August. The five new routes will operate under the Stena Line brand.
About the transaction:
Stena Line is acquiring five ferry routes, operating between Sweden, Germany and Latvia, from Scandlines Deutschland GmbH. The acquisition will contribute to an increase in turnover for Stena Line of around 1 billion, to a total of about SEK 12.1 billions for 2013. The five routes are Travemünde to Ventspils and Liepaja, Nynäshamn-Ventspils as well as Trelleborg to Rostock and Sassnitz. Three ships in total operate the routes to the Baltic States, of which two are chartered and the ferry "Ask" is being bought by Stena Line. The Trelleborg routes were previously operated jointly with Scandlines GmbH, via Stena Line's subsidiary Scandlines AB, under the Scandlines Hansa brand. Stena Line will now be the sole owner of the routes, which are currently operated by four ferries in total. The acquisition also includes the ferry "Sassnitz".
Stena Line, Göteborg, 10/07/2012
For further information, contact Joakim Kenndal, Communications Director, tel +46 (0) 704 85 85 55 or Gunnar Blomdahl, CEO, tel+46 (0) 31-85 83 20.