Ferry News Archive
Sea Containers completes Silja Line sale
Date: 19 Jul 2006 00:00 Source: Lloyds ListHeavily-indebted Sea Containers will be able to pay off around $503m of bank borrowings following the sale of Baltic ferry operator Silja that was completed today.
The New York listed, London headquartered company that is in default on some loans said it has finalised the sale of Silja to Estonia's Tallink Grupp.
The transaction had been announced on June 12 but was the subject of regulafory approval from the Finnish, Swedish and Estonian competition authorities that have now been granted.
The consideration for the sale of Silja's core business is E450m in cash ($563m) and 5m ordinary shares in Tallink, equivalent to $22m. Corporate approval was given by Tallink shareholders at an extraordinary general meeting on June 22.
The deal does not include Silja's fast ferry services from Helsinki, Finland to Tallinn, Estonia and the two SuperSeaCat ferries, which will be retained by Sea Containers and operated as a standalone business under the SuperSeaCat brand name.
Sea Containers eventually expects to be a shareholder in container leasing and train operating companies, once it has completed the sale of assets to raise cash and remove the threat of bankruptcy.
More Ferry News from directferries.co.uk
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Date: 08 May 2012 Source: Brittany Ferries
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Date: 01 May 2012 Source: DFDS Seaways
Take your car by ferry to France with DFDS Seaways from Dover to Dunkirk or Calais from just £19 return.
Date: 01 May 2012 Source: P&O Ferries
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Date: 30 April 2012 Source: Toremar
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Date: 25 April 2012 Source: P&O Irish Sea
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Date: 18 April 2012 Source: Stena Line
Take your car on any ferry to Northern Ireland or Ireland with Stena Line and take a second passenger for FREE – a saving of up to £50 on a return crossing!
Date: 16 April 2012 Source: Irish Ferries
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