Clipper sells ferry business to focus on dry cargo

Clipper sells ferry business to focus on dry cargo

Athens: Danish group Clipper has sold its 29.95% interest (4,243,277 shares) in ferry operator Mols-Linien to private equity group Polaris for an undisclosed price.

The divestment will free up cash for Clipper to inject into its core business, dry cargo shipping. The group has a fleet of 82 bulkers, nine multipurpose vessels, plus RoRo carriers and other passenger vessels.

On Friday, Polaris made a binding offer to acquire all the outstanding shares in Mols-Linien at a price of DKK 34 per share, valuing the ferry operator at DKK 482 million ($71.7m). It plans to delist the company from the Copenhagen Stock Exchange.

Mols-Linien operates ferry services between the Jutland and the island of Zealand in Denmark.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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