3i and Allianz looking to sell Scandlines
3i and Allianz Capital Partners are set to sell German-Danish ferry operator Scandlines, according to reports.
The current owners have hired Goldman Sachs and ING Group as advisers, according to reports. An exit could value Scandlines at €1.4bn.
3i, Allianz Capital Partners and Deutsche Seereederei acquired the company in July 2007 from German national rail operator Deutsche Bahn and the Danish Ministry of Transport for €1.56bn. 3i and Allianz each own 49% in the holding company Scandferries. Deutsche Seerederei sold its stake to the two remaining investors in 2010.
Scandlines is based in Copenhagen and Rostock and transported more than 11 million passengers in the last year, while the company reported that its profits halved to €10m. Scandlines' turnover in 2011 was €611m.
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