Stena AB has entered into an agreement to acquire the Norwegian shipping company Color Line, subject to regulatory approval. The buyer is the owner of ferry operator Stena Line. The seller is Norwegian industrialist Olav Nils Sunde and his family.
The parties have agreed not to disclose the value of the proposed transaction.
The transaction will be structured as a share purchase agreement under which Stena AB's wholly owned subsidiary, Stena Rederi AB, acquires all shares in Color Group AS from ONS Invest II AS, which is wholly owned by Olav Nils Sunde and his family. ONS Invest II owns 100% of Color Group, which in turn owns 100% of Color Line and its subsidiaries.
According to the source, the transaction will bring together two companies with complementary operations in Europe and passenger and freight transport. Following completion, Stena intends for Color Line to continue as a separate, independent business and brand, with local management in Norway and Norwegian-registered ships. Stena said it will use its industrial expertise, reach and experience to strengthen and further develop Color Line, including in decarbonization, technology and digitalization, customer service and logistics.
"This is a true milestone in Stena Line's history, further strengthening our ability to be a reliable link between places, people and communities," said Niclas Mårtensson, CEO of Stena Line.
Color Line's CEO Trond Kleivdal said Stena wants to preserve the strengths of what he called one of the most recognized and valued brands in the industry while giving the company a stronger foundation for further development and renewal as part of Stena.
The signing of the agreement will not affect sailings, bookings or ongoing customer and supplier relationships within Color Line or Stena Line, the source said. Both companies will continue to operate as separate, independent businesses while the transaction awaits.
The proposed transaction is expected to be completed towards the end of Q1 or during Q2 2027.