DFDS: no bid yet

Danish shipowner DFDS has confirmed it is participating in the sale of Turkey’s UN Ro-Ro, but it has not yet made a firm bid.

The ro-ro company said it was among a number of other parties taking part in the tender.

DFDS added its participation was the same as in a number of other similar processes supporting its “strategic goal of consolidation of the industry.”

“Due to the confidential nature of the process, DFDS has no further comments at this stage,” it said.

Sources close to the deal told Bloomberg that potential buyers also include an alliance of private-equity firms Esas Holding and Actera Partners, and domestic infrastructure investor Global Yatirim Holding, which owns ports.

The price may well be below the $1.33bn paid by US private equity fund KKR to previous owner International Transporters Association of Turkey (UND) in 2007.

UN Ro-Ro has debts of $800m.

KKR has a 97.6% stake in the owner, which has 12 Turkish–flagged vessels built between 2001 and 2013, operating on routes to Italy, France and Egypt.