Stena Line has signed an agreement with DFDS to acquire its Liverpool to Belfast and Heysham to Belfast routes for about £40m ($61.94m).

The routes will enable Stena Line to improve its service on the Irish Sea by offering alternatives for transportation between Great Britain and Northern Ireland.

The transaction between Stena Line and DFDS will be notified to the Irish and UK competition authorities.

Stena Line also revealed that it will close its Fleetwood ferry crossing to Larne operations due to ongoing losses on the route.