A PYMNTS Company

Norway: Acquisition of Nor Lines rejected

 |  April 3, 2017

The Norwegian Competition Authority has today rejected Eimskip’s acquisition of the Norwegian shipping and logistics company Nor Lines. The result of this decision is that Eimskip is not allowed to acquire Nor Lines.

The potential acquisition of Nor Lines was not taken into account in the EBITDA forecast for the year 2017, and therefore this decision has no effect on that forecast. Acquisition cost in year 2017 related to this project is estimated EUR 300,000 which will be expensed in the first quarter 2017.

Eimskip will seek other options in developing and strengthening its operations in Norway for the benefit of our customers. If the acquisition had been approved that would have led to more extended services to importers and exporters in the Norwegian market.

Full Content: Trade Winds News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.