Finnlines sells MS Finnhansa and MS Finnarrow

Finnlines Plc has sold MS Finnhansa to the Grimaldi Group at a market price of EUR 30 million and Finnlines Plc’s subsidiary has signed the sales agreement of MS Euroferry Brindisi (MS Finnarrow) with an external party at a market price of EUR 32.5 million. These actions, when concluded, will lead in Finnlines Group to a cumulative additional cash-flow of EUR 62.5 million, gains on sales of approximately EUR 3.5 million and an equity ratio improvement to around 40 per cent in the fourth quarter.
The reason for the disposal of these two vessels was that the operative use of both MS Finnhansa and MS Finnarrow has been unprofitable due to the existing overcapacity in the market.