Rettig Group to divest Bore to Dutch shipping company Spliethoff
Rettig Group Ltd. is divesting its RoRo shipping company Bore Ltd. to the Dutch shipping company Spliethoff’s Bevrachtingskantoor B.V.. All activities of the Bore business will transfer to Spliethoff, including all of Bore’s employees, Bore’s entire fleet of nine RoRo vessels and the strong Bore brand.
The 24.8 per cent holding in Försäkringsaktiebolaget Alandia is not included in the transaction and remains within Rettig Group. The all-cash deal is expected to close on 30 June 2016 and does not require any approval by competition authorities. After the successful restructuring programme in 2014-2015 Bore focuses on the Roll-on/Roll-off (RoRo) segment. The nine RoRo vessels are chartered to line operators that transport cargo in the North Sea, the Baltic Sea, the Mediterranean and the Carribean.
The Spliethoff group operates a fleet of over 100 vessels worldwide. Finnish RoRo line operator Transfennica is part of the Spliethoff Group since 2002.
Rettig Group is a Finnish family business that creates value for generations. In 2015, Rettig Group had a turnover of EUR 898 million and about 4,200 employees in 28 countries. Established in 1897, Bore Ltd is a shipping company wholy owned by Rettig Group Ltd, with a fleet of nine RoRo vessels under Finnish flag. The Bore fleet provides services with vessels that are highly maintained and designed for year-round service with Ice Class 1A or 1A Super. The Bore RoFlex® vessels are pioneers for sustainable and economical shipping. In 2015, turnover of Bore was EUR 40 million and the total number of employees 214.
Spliethoff Bevrachtingskantoor B.V. was established in 1921 by Johan Fredrik Spliethoff as a shipbroker specialising in forest products from the Baltic. Today the Spliethoff Group operates a fleet of over 100 vessels. Its ships sail all over the world and the Group is known for its high quality by constantly keeping the fleet up-to-date, manning it with highly qualified crews and by tailoring its ships to the market in close consultation with the customer. The Finnish Ro-Ro line operator Transfennica is part of the Spliethoff Group since 2002.
