Magellan Capital Holdings acquires majority stake in Danmarks Skibskredit A/S
Case News
On 10 June 2024, the Danish Financial Supervisory Authority has approved that Magellan Capital Holdings (‘Magellan’) acquires Axcel's, PFA's and PKA's ownership interests, which together constitute 96.2% of the A-shares in Danmarks Skibskredit A/S (‘Danish Ship Finance’). Axcel will retain 5% of the total share capital for a period of up to two years to ensure a smooth change of ownership. The Danish Maritime Fund will continue to own all B-shares in Danish Ship Finance, representing 10 per cent of the share capital in Danish Ship Finance.
Magellan thereby becomes the new majority shareholder in Danish Ship Finance. With Magellan Danish Ship Finance will have a solid financial foundation to continue to offer strong financing solutions to shipowners and shipyards in the future. Magellan will maintain Danish Ship Finance's strategic focus on financing solutions that contribute to the transition to a more sustainable shipping industry.
Magellan is an Abu Dhabi-based investment fund that focuses on stable investments in both public and private markets and real estate.
Danmarks Skibskredit was founded in 1961 and has since been a respected provider of financing in the shipping industry.
Plesner has advised Magellan in connection with the transaction.