Wednesday, 27 February 2013

Unifeeder for sale at DKK 3 billion

The private equity fund Montagu Private Equity has set the Danish shipping company Unifeeder for sale at DKK 3 billion. Maersk Line is mentioned as a potential buyer for the feeder shipping company according to Børsen.
"Unifeeder is put up for sale. The fund has had it for some years, it has gone well, and this is a reasonable and interesting company", a source told the newspaper.

Unifeeder has not confirmed the newspaper's information, but confirms that it is working on a "strategic review" of the company, as a private equity fund in 2007 bought the company founders of between 2 to 3 billion.

Maersk Line's feeder company Seago Line is mentioned as a possible buyer, but the timing is not optimal.

"In better times it had seemed more obvious, but it is not exactly the right time for Maersk Line to make acquisitions at the moment. As long as the container market is under pressure, Maersk Line don’t have any great free cash flow they can use on acquisitions", Jesper Christensen, an analyst from Alm. Brand to Børsen.

Unifeeder was founded by Peter Bohnsen and Tonny Dalhøj Paulsen in 1977. The company is headquartered in Aarhus.

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