Icelandic shipping company Samskip is to take over Geest North Sea Line in a move it claims will create the largest European shortsea intermodal container operation.
The deal will be financed through a share issue as well as from Samskip’s existing resources, but the price being paid for Rotterdam based Geest is not being disclosed.
Samskip said that with the acquisition of Geest it estimates that its total turnover will double to EUR 500m ($656m).
