Existing investors pick up Hurtigruten for €500M

Existing investors pick up Hurtigruten for €500M
Edited by Travel Weekly


Norwegian group expedition company Hurtigruten Group has confirmed its sale to a consortium of existing investors for a sum of EUR 500m (A$811 million).

The acquisition will mark the final separation of HX (Hurtigruten Expeditions) from sister company Hurtigruten. Both companies were previously part of the Hurtigruten Group.

From January 2025, each business will exist as a standalone entity, with both businesses being owned by a consortium of existing investors.

Torben Geisler of Arini Capital Management, which is part of the two consortiums, said, “Today marks a significant chapter in the future of these two companies. With this infusion of new capital and strategic support from our investor groups, both Hurtigruten and HX are poised to enhance their product offerings and explore new markets, while continuing to deliver exceptional travel experiences. Hurtigruten and HX’s incredible workforces have been instrumental in driving the success of both businesses and will continue to be under this new structure.”

James McArthur, CFO at Hurtigruten Group, said, “We are very excited to now achieve what everyone in our organisation has been working towards for a long time. This transaction marks the beginning of an exciting era for both Hurtigruten and HX; both businesses now have tailored ownership teams that have full confidence in their unique market position and long-term potential.”

 

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