Color Group AS has agreed to purchase 61.4% of ONS Ship Finance AS from its parent company, O.N. Sunde AS, for NOK 400 million, based on an independent valuation.
This acquisition will be settled by offsetting intercompany balances.
Color Group AS, through Color Line AS, already owns 38.6% of ONS Ship Finance AS, thus becoming the sole owner of RoPax SuperSpeed 2.
Source: Euronext
Color Group AS has successfully completed a new subordinated perpetual hybrid bond issue of NOK 500 million with first call date in December 2024. Net proceeds from the new bond issue will be used for general corporate purposes.
Arctic Securities, Danske Bank, DNB Markets, Nordea and SEB acted as Joint Lead
Managers in connection with the placement of the new bond issue. An application will be made for the bonds to be listed on Oslo Børs.
In total, Color Group has approximately NOK 3 billion outstanding in the bond market.
Source: Oslo Stock Exchange 9 September 2020
Color Line Expects a Lower Profit Than Last Year
Color Group AS is expecting to have a profit in 2019 that is down comparable to the figure reported in 2018, because of:
Total cash effect is estimated to approximately NOK -200 mill. (of which approximately NOK -150 effect on results) In 2019.
BOHUS has been sold to a subsidiary company of Northbay Transportes Maritimos LTD, Madeira, Portugal with delivery latest 30 August 2019. The transaction has been guaranteed by the subsidiary company Tnitsea Shipping LTD, Madeira, Portugal. The ship will continue its operations in the Mediterranean, most likely for Red Star Ferries.
A Good Year For Color Line In 2017
Color Line AS, a company belonging to Color Group AS can look back on a successful 2017.
Color Group is expecting to record a profit in 2018 that is comparable to the figures reported in 2017.
As a reminder, the company entered last year into a contract with Ulstein for the construction of the world’s largest plug-in hybrid ro-pax for the Sandefjord-Strömstad route (spring 2019)
One more detail: interesting to know is also that 65% of the company’s estimated bunker costs for 2018 and approx. 30% for 2019 are secured by hedging.
