the control of Danish Ship Finance passes to pension funds PFA and PKA and to the bottom of private Axcel equities



The control of the Danish holding company Danish Ship Finance (DSF), that it supplies loans to Danish and foreign shipowning societies based on the mortgages on the ships, is passed to a Danish consortium constituted by pension funds PFA and PKA and by the bottom of private Axcel equities, transaction that is put into effect through holding company the AXPP which the three ShareCo of partner stops joint quotas.

AXPP ShareCo has acquired 72% of the DSF capital that is yielded by the Danish financial institutions Danske Bank, Nordea Bank and Danmarks Nationalbank and from shipowning group Danish A.P. Møller-Mærsk. Danish Ship Finance has specified that the cession has happened on the base of a price of 14,166667 Danish crowns for each action, figure that assigns to the entire social capital a value of 4,72 billion Danish crowns (634 million euros).

In the course of the first half of October to the other shareholders of DSF it will be offered to yield their actions to AXPP ShareCo to the same price and the same conditions. Between these there is the Danske Maritime Fond, bottom instituted in 2005 in order to finance the marine industry and navalmeccanica Danish who stops 10% of the capital of Danish Ship Finance. Danske Maritime Fond has already communicated that it intends to maintain own quota in DSF and to be part of the future of Danish Ship Finance in partnership with the new owners.

According to the forecasts, the transaction will be capacity to term within the end of this year.

"Danish Ship Finance - it has commented Peter Nyegaard, partner and financial director of the Axcel - is a healthy society and very managed, even if for some time it has been a situation of unsolved property. Now we have found a solution that we with PFA see and engaged PKA to develop it ulteriorly and we do not see the hour to work with the society, its management and employee its".

"Daniss Ship Finance - it has added the financial director of PFA, Anders Damgaard - is a solid society with a model of only business. They are specialist in own field and their history and their pocketbook customers testify of a society managed professionally with a good position on the market. Draft - it has specified Damgaard - of an investment in the long term that one joins well in our pocketbook".

Of the same tenor the comment of in charge of the investments of the PKA, Nellermann Pedersen, that it has specified that the new property sees also "good opportunity for the society to increase own profits when the market will enter in calmer waters. Therefore - it has evidenced - we expect that the investment will produce to bonds yields for the pensions of our users".