A number of banks are now consolidating debt packages amounting to Eur 1 billion or US $1.3 billion for the purchase of Scandlines, the ferry group and Allianz Capital Partners. Allianz and 3i, owners fo the ferry group had put Scandlines for sale at Eur1.4 billion.
There have been interest generated for the sale, with private equity firms such as Apollo, Axa Private Equity and Nordic Capital indicating an interest to acquire the asset.
The sale managers are Goldman Sachs and ING and they are also deep into putting together debt financing packages worth Eur 1 billion for any of the interested buyers, The information came from sources knowledgeable about the transaction who spoke on condition of anonymity.
ACP and 3i purchased Scandlines for Eur 1.5 billion during the boom of 2007. The ferry group also was deep in debt, at that time was at Eur 1.28 billion according to Thomson Reuters LPC data. The minority investor then was Deutsche Seereederei, who was bought back in 2010.
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