Stena signs agreement to acquire Color Line
The Swedish industrial Group Stena AB, owner of ferry operator Stena Line, has entered into an agreement to acquire the Norwegian shipping company Color Line, subject to regulatory approval. The transaction will bring together two companies with complementary operations in European passenger and freight transport, creating added value and benefits for both companies’ customers. Privately ...
Swedish industrial group Stena AB has reached an agreement to acquire Norwegian shipping company Color Line, pending regulatory approval. The merger combines two companies specializing in European passenger and freight transport, promising enhanced value and advantages for their customers. Stena, a privately-owned entity, will acquire Color Line from Norwegian industrialist Olav Nils Sunde and his family, uniting two successful ferry operators with substantial Scandinavian maritime heritage, robust market expertise, and high customer satisfaction.
Upon completion, Color Line will maintain its existence as an independent business and brand, with local management in Norway and Norwegian-registered ships. Stena will leverage its industrial expertise, size, and experience to bolster and further develop Color Line, focusing on areas such as decarbonization, technology, digitalization, customer service, and logistics.
Stena Line CEO Niclas Mårtensson expressed confidence in the partnership, stating that together they will strengthen business opportunities and contribute to community development, including through tourism and sustainable shipping. Color Line CEO Trond Kleivdal emphasized that Color Line is a highly recognized and valued brand, and the acquisition will preserve its strengths while providing a stronger foundation for the company's future growth and renewal.
The signing of the agreement will not impact sailings, bookings, or ongoing customer and supplier relationships for either Color Line or Stena Line. The transaction, structured as a share purchase agreement, involves Stena Rederi AB acquiring all shares in Color Group AS from ONS Invest II AS, a wholly-owned subsidiary of Olav Nils Sunde and his family.
The parties have agreed to maintain confidentiality regarding the transaction's value, as it is subject to regulatory review. The proposed transaction is anticipated to be finalized in the latter half of 2027.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.