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Apollo, AXA PE, Nordic bid for private equity-backed Scandlines

8 Apr 2013

scandlinesPrivate equity firms 3i and Allianz Capital Partners have reportedly received interest from three other buyout houses for their jointly-owned ferry group Scandlines.

Apollo Global Management, AXA Private Equity and Nordic Capital have all shown interest in the business according to Reuters, which quoted a person close to the transaction.

They said, “The offers handed in by the Friday (April 5) deadline all came from private equity investors.”

3i and Allianz, which each own 50 per cent of the Baltic ferry group, launched a beauty parade for the asset last September for a deal the firms hoped would raise €1.4bn.

The pair paid €1.5bn for the business in 2007 alongside minority investor Deutsche Seerederei, picking up the remaining stake from the latter in 2010.

Scandlines, which focuses on the major passenger routes between Germany, Denmark and Sweden, posted revenues of €611m in 2011 – a rise of eight per cent – and EBITDA of €167m according to Reuters data.

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