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.