DFDS buys remaining shares in Lys-Line

DFDS buys remaining shares in Lys-Line    Danish short-sea operator DFDS A/S Friday signed an agreement to buy the remaining 34 percent of the shares held by Simonsen Holding in Norwegian companies Lys-Line AS and DFDS Lys-Line Rederi AS. No financial details were disclosed.
   DFDS A/S now owns all the share capital in both companies.
   Lys-Line operates 21 ships and has an annual turnover of approximately NOK 1 billion ($150 million). As part of the transaction, Lys-Line’s name will be changed to DFDS Lys-Line AS.
   “The share purchase will facilitate further synergies between the various DFDS Group companies, and increase DFDS Tor Line’s development potential, in particular providing efficient maritime transport solutions based on combined sideport/container ships and lo/lo (lift-on/lift-off) and ro/ro (roll-on/roll-off) tonnage,” said Ole Frie, managing director of DFDS.
   “We want to expand Lys-Line’s tramp and container activities through organic growth, alliances and acquisitions. In addition to the geographic areas in which we already operate, we are also interested in lo/lo shipping opportunities in the Baltic,” Frie added.