Rotterdam-headquartered transport and logistics firm Samskip has been cleared by the Norwegian Competition Authority to proceed with its acquisition of Nor Lines from Norway’s DSD Group, which will expand its shipping and logistics business in Norway.
The authority has found that Samskip’s acquisition would not result in a significant impediment to effective competition.
Samskip, originally founded in Iceland, sealed a deal with DSD Group in July pouncing after competition authorities rejected the EUR15m acquisition of Nor Lines by another Icelandic company, Eimskip.
Ásbjörn Gíslason, chief executive officer of Samskip Logistics, commented: “We are very pleased that the Norwegian Competition Authority has cleared the Nor Lines takeover. It represents a major opportunity for Samskip; a natural but significant extension of our shipping and logistics activities in Norway to further broaden our customer offerings.”
Samskip will acquire Nor Lines’ activities which include terminal activities nationwide, warehousing and haulage services, and five out of seven multipurpose vessels which will be transferred under a time charter arrangement. Post-acquisition activities will continue under the Nor Lines name.