Danish shipping and logistics company DFDS has entered into an agreement to acquire 98.8% of Turkish roro freight shipping operator U.N. Ro-Ro from Turkish private equity firms Actera Group and Esas Holdings.
The total value of the deal is EUR950m ($1.17bn) which will be mainly funded through committed debt financing.
“With the acquisition of U.N. Ro-Ro, we are expanding into one of Europe’s most attractive freight markets which is operationally similar to northern Europe. This gives us opportunity together with the existing strong management team to leverage our network, fleet, experience and skills to develop the business further while supporting the growth of U.N. Ro-Ro’s customers,” said Niels Smedegaard, CEO of DFDS.
The transaction is subject to approval by the Turkish, Austrian, German and Italian authorities in relation to the transfer of the Trieste terminal as a strategic asset. The deal is expected to be completed in June.
U.N. Ro-Ro operates five freight shipping routes in the Mediterranean between Turkey and EU with a fleet of 12 roro ferries.