Stena signs agreement to acquire Color Line

Stena AB, owner of ferry operator Stena Line, has agreed to acquire Norwegian shipping company Color Line, subject to regulatory approval. Privately owned Stena is acquiring Color Line from Norwegian industrialist Olav Nils Sunde and his family. The deal will bring together two companies with complementary operations in European passenger and freight transport.

The Swedish company added that the agreement will not affect sailings, bookings or ongoing customer and supplier relationships at Color Line or Stena-owned Stena Line. Both companies will continue to operate as separate, independent businesses while the transaction awaits regulatory approval.

The transaction will be structured as a share purchase agreement under which Stena AB’s wholly owned subsidiary, Stena Rederi AB, will acquire all shares in Color Group AS from ONS Invest II AS. ONS Invest II is wholly owned by Olav Nils Sunde and his family.

ONS Invest II owns 100% of Color Group, which in turn owns 100% of Color Line and its subsidiaries. The parties have agreed not to disclose the value of the proposed transaction.

This story was originally published by World Cargo News. Read the full story at World Cargo News →