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 is to bring together two companies with complementary operations in European passenger and freight transport.
Privately owned Stena’s acquisition of Color Line from Norwegian industrialist Olav Nils Sunde and his family will unite two successful ferry operators with deep roots in Scandinavian maritime traditions, strong market expertise and high customer satisfaction.
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Decarbonisation, technology and digitalisation
Following completion, Stena intends for Color Line to continue as a separate, independent business and brand, with local management in Norway and Norwegian-registered ships. At the same time, Stena will use its industrial expertise, reach and experience to strengthen and further develop Color Line – including in decarbonisation, technology and digitalisation, customer service and logistics.
‘This is a true milestone in Stena Line’s history, further strengthening our ability to be a reliable link between places, people and communities,’ says Niclas Mårtensson, CEO of Stena Line. ‘When we welcome Color Line to the Stena family, I am confident that together we will be able not only to develop our business opportunities but also to contribute to the positive development of communities, including through tourism and more sustainable shipping.’
Color Line’s CEO Trond Kleivdal adds: ‘Color Line is one of the most recognised and valued brands in our industry, and Stena wants to preserve these strengths while giving us a stronger foundation for the company’s further development and renewal as part of Stena.’
No impact on ongoing business
The signing of the agreement will not affect sailings, bookings or ongoing customer and supplier relationships within Color Line or Stena-owned Stena Line. Both companies will continue to operate as separate, independent businesses while the transaction awaits regulatory approval.
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Transaction to be completed in 2027
The transaction will be structured as a share purchase agreement under which Stena AB’s wholly owned subsidiary, Stena Rederi AB acquires all shares in Color Group AS from ONS Invest II AS, which is wholly owned by Olav Nils Sunde and his family. ONS Invest II owns 100 per cent of Color Group, which in turn owns 100 per cent of Color Line and its subsidiaries.
The parties have agreed not to disclose the value of the proposed transaction, which is subject to regulatory review. The proposed transaction is expected to be completed towards the end of Q1 or during Q2 2027.
Picture: Color Line will continue to operate under its own name (photo Color Line).
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