EU approves DP purchase of Unifeeder
The European Commission has approved DP Worlds purchase of the Danish short sea shipping company Unifeeder for a sum of 695 million USD. The investment fund Nordic Capital announced the sale back in August. The fund has owned Unifeeder since 2013.
The commission came to the conclusion that the deal would not create competitive issues, as it would have limited influence on the structure of the markets for delivering container terminal services and short sea shipping services.
Unifeeder considers it to be a long-term strategic step from the Dubai-based port operator. It is considered DP's World's first ownership of a short sea shipping company, although the port company already owns both P & O Ferries and P & O Ferrymaster. The transaction marked Nordic Capital's fourth sales agreement in the past year.
The ferry shipping company which is based in Aarhus has grown to become one of the biggest actors in the sector due to increased volume in the feeder market as well as economic growth in the short sea industry.