Three tentative bids from private equity investors have been received for ferry group Scandlines, according to a source.
Scandlines is jointly-owned by private equity groups 3i and Allianz Capital Partners, with each owning 50 percent of the ferry group which carries around 12 million passengers yearly. Goldman Sach and ING were appointed to organize the sale which hopes to generate $1.80 billion for the investors.
Among those that have previously shown interest in Scandlines are private equity investors Apollo, Axa Private Equity and Nordic Capital. However, it is not clear if they were among the bidders.
In 2011, Scandlines' revenue amounted to 611 million euros and total earnings of 167 million.
3i and ACP, along with minority investor Deutsche Seereedere, acquired Scandlines in 2007 for 1.5 billion euros backed with 1.28 billion euros of debt, according to data from Thomson Reuters LPC.
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