December 12, 2019

Havila Becomes Major Shareholder of Fjord1

On Monday 9 December 2019, Per Sævik’s Shipping company Havila (through its wholly owned subsidiary Havilafjordn Holding AS) bought for NOK 676 million shares in Fjord1. By this move, Havila holds 66.5% of the Fjord1 shares.

On Tuesday 10 December, Havila secured capital for the acquisition from a fund managed by Vision Ridge Partners. Together they hold 70.35 million shares, representing 70.35% of the shares of Fjord1.

The intention of the parties is to cooperate as partners in developing Fjord1 into an integrated transportation and tourism company, through a potential consolidation with Havila Kystruten AS. Havila Kystruten has four ships under construction, to be used as from 2021 on the Norwegian Coast. (remark: two of these ships, to be built by Barreras, have been canceled)

Frederik Wilhelm Mohn has in the meanwhile announced that he resigns from the Board of Directors in Fjord1 ASA with immediate effect.