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DFDS makes about-turn to buy Ekol transport network after all

[ November 15, 2024   //   ]

In a surprise move, DFDS has completed the acquisition of the international transport network of Turkey-based Ekol Logistics, having earlier this month saying it had abandoned its bid due to a failure to reach  contractual conditions by the agreed deadline.

The Danish-owned ferry and logistics company said the deal was based on a revised set of terms agreed since the termination of the share purchase agreement on 1 November 2024. The main change was the amount of debt included in the transaction while DFDS also now has an option to extend the duration of the terminal agreement with Yalova Port.

Ekol moves goods between Türkiye and Europe with its own offices and facilities in 10 European countries, more than half of them by intermodal combinations of road, ferry, and rail it the largest customer of DFDS’ Mediterranean ferry route network. DFDS said the acquisition would add road transport to its Mediterranean ferry network  and expand its European logistics network to Türkiye, allowing it to offer end-to-end transport and logistics solutions.

DFDS chief executive Torben Carlsen said: “DFDS’ acquisition of Ekol’s international transport network greatly enhances our ability to provide a reliable and efficient transport infrastructure supporting Türkiye’s continued growth as a manufacturing hub. Given the revised terms, well prepared business plans, and the strength of our expanded network, we are well positioned to protect and grow our Mediterranean business.”

Ekol Logistics founder and chair, Ahmet Musul, added: “The strategic logic of the sale of Ekol Logistics’ international transport network to our longstanding partner DFDS is compelling. On behalf of all my great colleagues, I’m therefore very pleased we came together again and forged a revised agreement. A new growth story can begin.”

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