3i acquires Allianz's Scandlines stake

As a result of the deal, which unquote" reported in September, 3i will now wholly own the company. 3i is investing €165m in equity to acquire Allianz's 49% stake. The deal is expected to be completed by the end of the year.

Scandlines also refinanced its current debt facilities with a new €875m package as part of the deal. Allianz and 3i acquired a 40% stake each in Scandlines in June 2007, and later bought Deutsche Seereederei's 20% stake in 2010.

During the past six years, Allianz and 3i have strengthened the management team, introduced operational improvement programmes and refined the business concept, according to the firms.

Founded in 1998 and headquartered in Rostock, Scandlines is one of the largest ferry operators in the Baltic Sea. The group is the result of a merger between Danish and German ferry operators Scandlines and DFO.

In 2012, Scandlines serviced 11.7 million passengers on its routes from Puttgarden to Rødby, Rostock to Gedser and Helsingør to Helsingborg.

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• Allianz Capital Partners