Samskip Cleared to Acquire Nor Lines
The Norwegian Competition Authority has approved the proposed acquisition of Norwegian shipping firm Nor Lines by Rotterdam’s transportation company Samskip.
“The Norwegian Competition Authority has found that Samskip’s acquisition of activities associated with Nor Lines AS would not result in a significant impediment to effective competition,” Gjermund Nese, Director Market Monitoring Department, said.
Last month, Samskip agreed with the DSD Group to acquire the activities of Nor Lines to expand its shipping, transport and logistics businesses in Norway. This will generate an average annual turnover of EUR 110 million (USD 132 million).
The transaction is expected to be completed in the next few days.
“We are very pleased that the Norwegian Competition Authority has cleared the Nor Lines takeover. It represents a major opportunity for Samskip; a natural but significant extension of our shipping and logistics activities in Norway,” Ásbjörn Gíslason, Chief Executive Officer, Samskip Logistics, commented.
Samskip’s presence in Norway has been significantly strengthened over the past years through internal growth and several acquisitions.