Allen Overy advises DIF Capital Partners and EDF Invest in connection with the debt financing

With a fleet of 81 vessels, Fjord1 is Norway’s largest ferry operator and the nation’s leading owner and operator of electrified ferry transportation. Ferries are an integral part of the Norwegian transportation infrastructure, with the company serving approximately 50% of all Norwegian passengers and providing critical high-frequency boat services between the mainland and islands, as well as across fjords that facilitate commuting, leisure, tourism, and goods transportation across the country.

Ed Moser, partner from A&O, commented: “we are delighted to have supported DIF Capital Partners and EDF Invest on the financing for their acquisition of Fjord1. The transaction illustrates the significant demand among equity and debt investors for exposure to assets underpinned by strong fundamentals and a compelling decarbonisation story.  Decarbonising transport networks, which account for around 20% of global CO₂ output, is critical to deliver Net Zero and Fjord1, with its extensively electrified fleet, already plays a significant role in helping the Norwegian ferry market support this objective.”

The deal was led by partner Ed Moser, with support from associates Rhushub Bidd, Will Chuter and Joon Ku Kang.

Subject to customary regulatory approvals, the transaction is expected to close in early 2024.