Scandlines sale successfully finalised

19 Jun 2007

A consortium under the leadership of Allianz Capital Partners GmbH (ACP), Munich, 3i funds managed and advised by 3i Deutschland, Frankfurt, and 3i Nordic, Copenhagen (3i Group), including the strategic partner Deutsche Seereederei GmbH (DSR), Rostock, is purchasing the shares of Scandlines Group. A contract was signed today with the previous owners, Deutsche Bahn AG and the Danish Ministry of Transport and Energy. The mutual agreement is subject to approval by the board of Deutsche Bahn AG, the Finance Committee in the Danish parliament and antitrust authorities.

ACP and 3i will hold 40 percent each of the shares of the consortium while DSR will hold 20 percent of the shares.

The consortium plans to further strengthen and develop Scandlines Group as a ferry shipping company in the Baltic Sea region. For that purpose the consortium has agreed on a long-term business plan which relies on the qualified and well-skilled employees of Scandlines Group. The consortium has therefore agreed not to lay-off any employees for operational reasons until 31 December 2010.

The new owners have the mutual intention to seek a listing of Scandlines Group on the stock exchange. At the time of any IPO DSR has the opportunity to take over the industrial leadership.

The sellers and the buyers are convinced that the consortium is the best basis for securing the future of Scandlines Group and its various locations in the long run.

The consortium will appoint Jan Stenberg, the former chief executive of SAS and a former supervisory board member of Lufthansa, to become chairman of the supervisory board of the Scandlines Group. 

For further information, please contact:
3i Germany
Dr. Stephan Krümmer, Partner, Managing Director 3i Deutschland GmbH:
 + 49 69 71 00 00 34stephan.kruemmer@3i.com

Christiane L. Döhler, Marketing & Communications Director
 089 54862-220 christiane.doehler@3i.com

Steffen Rinas, Citigate Dewe Rogerson GmbH
 069 90500-120 steffen.rinas@citigatedr.de

3i Nordic
Steffen Thomsen, Director 3i Nordic, Denmark, advisor to 3i Group plc:
 + 45 33 47 67 03,  steffen.thomsen@3i.com

Gustav Bard, Managing Director 3i Nordic, advisor to 3i Group plc: 
 +46 8-506 101 51,  gustav.bard@3i.com

Allianz Capital Partners 
Petra Krüll , Allianz Capital Partners, Munich
089 38 00-2628   petra.kruell@allianz.com

Deutsche Seereederei
Rainer Ortlepp, Deutsche Seereederei
040-209 160 74 r.ortlepp@deutsche-seereederei.de

Notes to editors

3i is a world leader in private equity and venture capital.  We focus on buyouts, growth capital and venture capital and invest across Europe, in the United States and Asia. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business.  These underpin the value that we deliver to our portfolio and to our shareholders.  http://www.3i.com

The 3i European Buyout Business is a leader in the European mid-market.  We lead mid-market buyouts up to €1bn using insight from our local knowledge, international connections, and our sector teams.  Managing €3bn invested in over 60 companies across Europe, the business invests in all sectors, with a particular focus on media, healthcare and business support services. 3i recently raised a €5bn fund, the largest fund in Europe dedicated to mid-market buyouts. ‘Eurofund V’ will be invested in buyout transactions over the next four years, primarily in Europe.