On 10 June 2024, the Danish Financial Supervisory Authority approved Magellan Capital Holdings Ltd.’s (“Magellan”) acquisition of Axcel’s, PFA’s and PKA’s ownership interests, constituting 96.2% of the A-shares in Danish Ship Finance 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 retain ownership of all of its B shares in Danish Ship Finance, constituting 10% of the share capital in Danish Ship Finance.
Consequently, Magellan will become the new majority shareholder in Danish Ship Finance. With Magellan, Danish Ship Finance will have a solid financial foundation to continue offering strong financing solutions to shipowners and shipyards. 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 a private equity fund based in Abu Dhabi focusing on stable investments in both the public and private markets and in real estate.
Danish Ship Finance was formed in 1961 and has since been a respected provider of financing in the shipping industry.
Accura advised the majority shareholders in Danish Ship Finance, Axcel, PFA and PKA in connection with the transaction.