Hurtigruten taken over by British company

The Local
The Local - [email protected] • 31 Oct, 2014 Updated Fri 31 Oct 2014 16:09 CEST
image alt text

The Norwegian cruise operator Hurtigruten has been bought out by Silk Bidco in a deal worth nearly 3,000 million kroner on Friday.


Hurtigruten accepted a share price of 7 kroner put forward by the bidders.

Commenting on the Offer, Helene Jebsen Anker, Deputy Chairman of Hurtigruten, said: "The independent directors of Hurtigruten have undertaken a detailed review of the terms and conditions of the Offer. It reflects the strategic and financial value of Hurtigruten, and represents a significant premium to the share price. As well as providing value for shareholders, the independent board recognizes the opportunity for Hurtigruten to continue its growth strategy under Silk Bidco’s ownership. Hurtigruten is a well- managed company, with a significant potential. We believe this potential will be released faster and more effectively with Silk Bidco on board. The independent board recommends that shareholders accept the Offer. "

Daniel Skjeldam, Chief Executive Officer of Hurtigruten, said: "This Offer represents an exciting new chapter for Hurtigruten, our guests, staff and partners. Under the new ownership proposal, the company would benefit from experienced investment partners, whose dedication, track record and supportive long term approach would provide strong support to reach the company’s full potential and long term ambitions."

Silk Bidco also make a statement on Wednesday stating the company's intent to support the existing growth strategy of the Hurtigruten. The UK company also wants to continue to embrace the unique heritage of the Norwegian company, its values and the strength of the management team and employees. Silk Bidco indicated its intention to invest across the fleet and to maintain a world class experience for passengers.

Hurigruten will keep its headquarters in Tromsø, while there are no plans to make changes to the current workforce.



The Local 2014/10/31 16:09

Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also