Norfolkline, the cross-Channel ferry operator, has been sold to Danish firm DFDS in a £310 million deal.

The move has been called "a perfect match" and creates a major shipping force in Northern Europe.

Norfolkline, which runs combined passenger/freight services from Dover to Dunkirk, was previously owned by A P Moller – Maersk, based in Copenhagen.

The transaction consists of a cash payment of £153m, with shares and a rights issue contributing the balance. A P Moller will take a 28 per cent stake in DFDS.

Norfolkline's head office is located in The Hague in the Netherlands. Apart from its cross-Channel services, it also operates ferries between Liverpool, Belfast and Dublin, and Rosyth (Scotland)-Zeebrugge (Belgium).

The new combined business will have turnover of £1.3bn, operating profits of £125m, 6,200 employees and a fleet of more than 70 vessels.

"This is a perfect match," said DFDS CEO Niels Smedegaard. "Norfolkline is a leading ferry and logistics company with a strong route network covering the North Sea, the Channel and the Irish Sea, combined with a considerable logistics operation.

"This means, that DFDS' network is expanded to include two new markets, the Channel and the Irish Sea, we can combine our
operations on the North Sea, and our ability to secure volumes for the network is greatly strengthened.

"We both serve passengers and freight customers and can
now provide transport solutions spanning the whole of Northern Europe – from Russia to Ireland."

A P Moller-Maersk group director Søren Skou added: "We have identified both operational and commercial synergies, which will create value for the owners, and we look forward to becoming a major shareholder in DFDS."