Potential buyers target Hurtigruten
TDR Capital, the British private equity firm which acquired Hurtigruten during the autumn of 2014, is reported to be talking to three potential buyers after receiving unsolicited offers.
When changing hands Hurtigruten was valued at US$884 million, with TDR taking a 90% interest while two existing shareholders each retained a 5% stake. Since then TDR has provided funds to acquire and refit new vessel SPITSBERGEN and upgraded four existing ships from the Norwegian coastal service.
TDR has also ordered two new buildings for delivery in 2018 and 2019, with options for two more.
According to TDR partner to Jon Rosen, Hurtigruten was profitable when acquired and has since become more so following changes to capacity management, on board spending and by being more responsive to customer needs.
jul 29 2016
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