Hurtigruten
Hurtigruten

Hurtigruten To Become British Owned

Hurtigruten ASA has announced that it has entered into a transaction agreement with Silk Bidco AS, a joint venture vehicle indirectly owned by Home Capital AS, a company controlled by member of the board of directors of the Company Petter A. Stordalen, Periscopus AS, a company controlled by Chairman of the board of directors of the Company, Trygve Hegnar, and investment funds managed by TDR Capital LLP, whereby Silk Bidco will make a voluntary offer to acquire all outstanding shares of Hurtigruten for NOK 7.00 per share, valuing the total share capital of Hurtigruten at about NOK 2,940 million.

The Offer price of NOK 7.00 per share represents a premium of 55.9 per cent to the last traded price for Hurtigruten on 28 October 2014, and a premium of 76.6 per cent, 71.4 per cent, 64.0 per cent and 66.8 per cent to the volume-weighted average share prices for the one, three, six and twelve month periods, respectively, that ended on 28 October 2014.