• All conditions for the acquisition of Norfolkline from A. P. Møller - Mærsk
fulfilled
• New Executive Management nominated
• DFDS - one strong brand in new, simplified brand architecture
• Integration process kicked off
DFDS completes acquisition of Norfolkline from A.P. Møller - Mærsk
DFDS A/S (”DFDS”) has today completed the acquisition of Norfolk Holdings B.V.
(”Norfolkline”) through the subsidiary DFDS Tor Line Holding AB (”DFDS AB”).
On 17 December 2009 DFDS and DFDS AB entered into a conditional agreement to
acquire Norfolkline from A. P. Møller - Mærsk A/S. Further information is
available in announcement no. 24/2009 and prospectus of 18 June 2010.
Completion of the transaction was conditional upon the completion of a
pre-emptive rights issue for DFDS' existing shareholders (”Offering”) and a
directed offering to A. P. Møller - Mærsk A/S at market price without
pre-emptive rights for DFDS' existing shareholders (”Directed Offering”).
Earlier today DFDS completed the Offering see also announcement no. 22/2010 and
the Directed Offering, see also announcement no. 23/2010. As all other terms
and conditions for the completion of the transaction have been fulfilled or
waived, the parties have today, 12 July 2010, completed the transaction.
DFDS - one strong brand
As part of the integration of DFDS and Norfolkline the brand architecture has
been simplified. ”DFDS” will be the combined company's master brand. In
addition comes two new brands for the divisions: ”DFDS Seaways” for Shipping
Division and ”DFDS Logistics” for Logistics Division. All activities, including
ships and transport equipment, will use these brands going forward.
Simplifying the brand architecture will strengthen DFDS' visibility and profile
towards customers and other stakeholders as Northern Europe's leading sea-based
transport network. The simplification also entails advantages concerning
efficiency and costs.
Management and organization
As announced on 18 June2010 , see announcement no. 18/2010, DFDS' Executive
Board remains unchanged with Niels Smedegaard as CEO, and Torben Carlsen as
CFO. Going forward DFDS' Executive Management will include Peder Gellert
Pedersen with responsibility for the Shipping Division, Eddie Green with
responsibility for the Logistics Division and Henrik Holck with responsibility
for the resource unit People and Ships. Peder Gellert Pedersen was previously
responsible for DFDS' business area Ro-Ro Shipping. Eddie Green was previously
responsible for Norfolkline's business area Logistics and Henrik Holck was
previously DFDS' HR Director.
Integration process kicked off
As a consequence of the completion of the transaction the planned integration
process has now been kicked off and as announced previously it is expected to
be completed by the end of 2012. The main part of the integration plan is,
however, expected to be completed by the end of 2011.
This announcement appears in English and in Danish. In case of any discrepancy,
the Danish version shall prevail.
The forward-looking statements in this announcement are subject to risks and
uncertainties, both general and specific, which can cause the actual
development to differ materially from any forward-looking statements.
