Denmark-based shipping company DFDS has completed the purchase of 98.8% shares in UN Ro-Ro from Turkish private equity companies Actera and Esas for €950m.
The deal is based on an agreement signed by the companies in April.
Based in Turkey, UN Ro-Ro currently operates five freight ferry routes connecting the country with Trieste in Italy, and Toulon in France with 12 ferries and its own port terminals in Istanbul and Trieste.
All the UN Ro-Ro ferries have joined DFDS’ fleet of 50 ships, following the deal.
With a workforce of 500 employees and €240m in annual revenue, UN Ro-Ro provides intermodal solutions in Europe, among other services.
The company will continue to be managed by its current CEO Selçuk Boztepe, who has now become the head of a new Mediterranean business unit in DFDS’ Shipping Division.
DFDS CEO and president Niels Smedegaard said: “Trade between the EU and Turkey has been booming for a long time and the future prospects are very encouraging for seaborne transportation, which bypasses border controls and road congestion in several countries.
“Together, we will be able to offer our customers a unique service. UN Ro-Ro is strong in the Turkish and Mediterranean markets, whereas DFDS has a very efficient network in Northern Europe.
“With efficient road and intermodal networks to combine the two areas, we will be able to support exporters and transporters to an even greater scale than before.
“This will be for the benefit of growing trade and employment in Turkey, as well as in the EU.”
The newly combined company also plans to add the Patrasport in Greek into its network.