Ferry operator Eckerö Line has made a bid for all outstanding shares in Birka Line Abp. Eckerö currently holds a 42 per cent stake in the listed cruise and ro-ro operator. The bid is valued at EUR 77 million and the price offered for the two shares (A shares and B shares) is said to be 23 percent and 29 per cent respectively above the three-month average on the Helsinki stock exchange.
The offer sets a value of EUR 216 million for Birka Line, including its net interest-bearing liability of about EUR 85 million. The bidding process is planned to start on 10 March with 20 April as deadline. The aim is “to create a larger Alandic shipowning player to meet challenges and demands on the market.” Eckerö aims for all shares and to de-list Birka Line.
The offer sets a value of EUR 216 million for Birka Line, including its net interest-bearing liability of about EUR 85 million. The bidding process is planned to start on 10 March with 20 April as deadline. The aim is “to create a larger Alandic shipowning player to meet challenges and demands on the market.” Eckerö aims for all shares and to de-list Birka Line.