In March this year Pelagia signed an agreement to acquire the remaining 50% in Hordafor AS, subject to approval by the relevant competition authorities, subsequently granted. As of 1st July, Pelagia Holding AS owns the entire shareholding in Hordafor.
Pelagic paid NoK477 million to acquire the remaining 50% of Hordafor from Partrederiet Karoløs ANS and one smaller shareholder.
‘We are very pleased with the approval,’ said Pelagic AS CEO Egil Magne Haugstad.
‘There are several reasons why Pelagia and Hordafor are a good match. We can achieve much more together than individually, and together we can provide our customers and partners with even better products and services.’
He commented that Hordafor and Pelagia complement each other in many areas, such as logistics, service solutions and product mix.
Although Pelagia now owns 100% of the shares in Hordafor, Egil Magne Haugstad said that this does not mean operational changes for Hordafor and for Hordafor’s customers and partners, it will be business as usual.
He stressed that there is no planned downsizing in connection with the purchase.
‘We are impressed with the staff at Hordafor, and welcome everyone into the group,’ he said.