DFDS: Joint Venture with Louis Dreyfus Armateurs completed
Copenhagen, 2012-09-26
Joint venture to support development of a long term, sustainable operation on the Channel
New business unit established to develop Mediterranean route and drive sales of DFDS’ northern European network services in France and Spain
DKK 100m of revenues added in Q4 2012
Joint venture completed
DFDS and Louis Dreyfus Armateurs (LDA) have today completed a joint venture agreement and formed a new company combining DFDS’ Channel operations and LD Lines’ ferry operations.
DFDS’ ownership share of the new company will be 82% and LDA will own 18%.
The joint venture is expected to add around DKK 100m of revenue in Q4 2012, while the profit impact in the same period is not expected to be material.
New business unit
The activities of LD Lines will be integrated partly in the existing business unit Channel, and partly in a new business unit France & Mediterranean:
The new business unit is responsible for managing the Mediterranean route between Marseille and Tunis, and providing sales and customer services for the Channel routes in France and Spain, thereby contributing to increasing the market share in these markets.
In addition, the new business unit is responsible for driving the sale of the freight and passenger services of DFDS’ entire route network in France and Spain.
Integration kicked off
The planned integration process has now been kicked off and is expected to be completed by the end of 2013, including integration of all business systems.
The integration is expected to enhance operational efficiency as LD Lines’ operations are transferred to DFDS’ business systems and groupwide functional services (it, finance, HR, technical).
Management
Carsten Jensen will continue as head of business unit Channel while Christophe Santoni assumes responsibility for the new business unit France & Mediterranean. Christophe Santoni was previously Managing Director of LD Lines.
DFDS press release
