An investment fund and two directors of Hurtigruten ASA, the listed company that operates the Norwegian coastal express ferry service between Bergen and Kirkenes plus expedition cruises, plan to bid NOK2.94 billion for all the shares in the company.
“Hurtigruten ASA today announced that it has entered into a transaction agreement with Silk Bidco AS, a joint venture vehicle indirectly owned by Home Capital AS, a company controlled by member of the board of directors of the Company Petter A. Stordalen, Periscopus AS, a company controlled by Chairman of the board of directors of the Company, Trygve Hegnar, and investment funds managed by TDR Capital LLP whereby Silk Bidco will make a voluntary offer to acquire all outstanding shares of Hurtigruten for NOK 7.00 per share valuing the total share capital of Hurtigruten at about NOK 2,940 million, Hurtigruten said in a statement.
The offer price of NOK 7.00 per share represents a premium of 55.9% to the last traded price forHurtigruten on 28 October 2014.
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."
