Ferry operator sells service to First Sate Investments to repay €66 million in debt
By
Rebecca Gibson |
Baltic ferry operator Scandlines has sold one of its routes and five ro-pax ferries to global asset manager, First State Investments.
The deal, which included shares for the route between Helsingør in Denmark and Helsingborg in Sweden, has enabled Scandlines to pay off €66 million of debt. Scandlines will now focus on developing its two Germany to Denmark ferry routes between Puttgarden and Rødby, and Rostock and Gedser.
“We have a clear vision for the future of Scandlines as an operator of frequent and reliable transportation services combined with high capacity and attractive customer experience,” said Søren Poulsgaard Jensen, CEO Scandlines. “The sale of our half of the route Helsingør-Helsingborg enables us to reduce our debt, thereby preparing for a competition with a fixed link on the Fehmarn Belt in eight to ten years.”