Danish shipping and logistics group DFDS will acquire 98.8 per cent of leading Turkish freight operator UN Ro-Ro from Turkish private equity firms Actera Group and Esas Holdings in a €950 million (US$1.17 billion) deal.
UN Ro-Ro operates five freight routes in the Mediterranean, connecting Turkey with Italy and France.
It deploys 12 freight ferries with an average age of 11 years, operates two port terminals (Trieste, Italy and Pendik, Istanbul) and also provides intermodal solutions.
The transaction is subject to approval by the Turkish, Austrian and German competition authorities. Italian authorities must approve the transfer of the Trieste terminal.
The deal is expected to be finalised in June.