Eimskip takeover of Nor Lines questioned by Norwegian authorities

Eimskip takeover of Nor Lines questioned by Norwegian authorities

The Norwegian Competition Authority has advised Icelandic shipping Eimskip of an objection it has to the company’s acquisition of Norwegian company Nor Lines.

Eimskip said the advice reflects the authority’s preliminary conclusion, and it has 15 business days to present counter arguments before a final decision is made.

Eimskip entered into an agreement to acquire Nor Lines in November 2016 for a price of around EUR15m ($16.6m). Nor Lines operates a fleet of seven cargo vessels, five of which Eimskip will take over to strengthen its combined service network between Norway, continental Europe and the Baltic Sea.

The company said it is evaluating next steps with its legal advisors.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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