Sweden’s Stena Line has acquired five short-sea routes in the Baltic Sea from German rival Scandlines in a major expansion into one of Europe’s fastest growing roll-on, roll-off freight markets.
The companies didn’t give financial details of the transaction, which requires approval from German competition regulators.
The routes are Travemunde, Germany, to Ventspils/Liepaja, Latvia; Nynashamn, Sweden, to Ventspils; Rostock, Germany, to Trelleborg, Sweden; and Sassnitz, Germany, to Trelleborg,
The deal will consolidate Stena Line’s position as one of Europe’s biggest freight ferry operators with a fleet of 35 ships currently operating 19 routes in Scandinavia and the U.K. The company booked revenue of $1.25 billion and carried 1.6 million trucks and trailers in 2011.
Scandlines, which is owned by 3i, a U.K. private equity fund, and Allianz, a German insurer, plans to focus on passenger routes in the future. The company transported 830,000 trucks and trailers in 2011.
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