News / DFDS to enter Gibraltar Straits with FRS Iberia/Maroc takeover

Photo: VesselFinder

Danish ferry operator DFDS is set to expand its service network to the West Mediterranean market after agreeing to acquire Morocco-Spain ferry company FRS Iberia/Maroc.

The deal is valued at around the $200m mark – in an announcement to the Danish stock exchange, DFDS said FRS Iberia/Maroc is expected to see revenues of DKr1bn-1.2bn ($143m-$172m) with an ebitda-margin of 18-20%, and ebit-margin of 11-12%, and the purchase price was an ebitda multiple of 6x “financed by a combination of loan financing ...