The AP Møller-Maersk Group and DFDS have agreed that DFDS will acquire 100 percent of Norfolkline.
The AP Møller-Maersk subsidiary provides freight ferry services on the English Channel, Irish Sea, and the North Sea, passenger ferry services on the English Channel and Irish Sea, and logistics services across Europe.
The total value of the deal is approximately US$494 million, which includes the AP Møller-Maersk Group obtaining 28.8 percent of the shareholding in DFDS.
In addition, AP Møller-Maersk will buy shares in DFDS from Lauritzen Fonden, bringing the group's total shareholding in DFDS to approximately 31 percent.
The deal excludes two of Norfolkline's vessels, which AP Møller-Maersk has agreed to sell to another buyer.
"DFDS and Norfolkline are a very good match and we are very pleased with this transaction," said Søren Skou, partner and member of AP Møller-Maersk's Executive Board.
The key focus areas for the new company during the initial integration phase will be to generate revenue growth through wider market coverage, to consolidate Ro-Ro shipping and port terminal operations on the North Sea and to improve capacity utilisation of the route network.
Norfolkline was founded in 1961 as a logistics company in Holland and in 1969 entered into Ro-Ro shipping with one vessel. Norfolkline was acquired by the AP Møller-Maersk Group in 1985 and an expansion of the ferry activities was begun in 2000 with the opening of the Dover-Dunkerque route, entry into the Irish Sea in 2005 through acquisition of Norse Merchant and opening of a Ro-Ro route from Rotterdam to Killingholme in 2006.
Norfolkline operates a total of 18 vessels.