Fjord Line looks to investment firm to help refinance debt

Ferd offers to buy NOK200 million of new shares in Scandinavian ferry company
Fjord Line looks to investment firm to help refinance debt
Fjord Line operates several passenger ferries including LNG-fuelled Bergensfjord (Image: Espen Gees)

By Rebecca Gibson |


Norwegian investment firm Ferd has offered to buy NOK200 million of new shares in Fjord Line as part of the Scandinavian ferry operator’s debt refinancing efforts.

Fjord Line’s board of directors has accepted Ferd’s offer of NOK5 per share for 40 million shares. This offer has been extended to Fjord Line’s existing minority shareholders, but excludes the Kontrari and Kontrazi, the holding companies of majority shareholder Frode Teigen. According to a press release, Kontrari and Kontrazi has ‘on certain conditions, indicated a willingness to underwrite the share issue.’

Subsequent to the private placement, Ferd would own 21% of Fjord Line, while Kontrari and Kontrazi would hold 57%.

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