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CapMan Infra, CBRE Caledon buy ferry company

Finnish private equity firm CapMan Oyj's CapMan Infra business and Canada's CBRE Caledon Capital Management Inc. agreed to each acquire a 50% equity stake in ferry and express boat company Norled AS from Norwegian family-owned company Det Stavangerske Dampskibsselskab AS.

CapMan invested through its CapMan Nordic Infrastructure I fund, and the deal represents CapMan Infra's first investment in transportation infrastructure. Financial terms of the deal, expected to close by the end of June, were not disclosed.

Norled operates zero-emission electric vessels and is also building the world's first hydrogen ferry. The company has long-term contracts with public transport authorities in Norway.

Nordea Bank Abp, filial i Norge, C&IB and RBC Capital Markets were joint financial advisers to CapMan and CBRE Caledon Capital Management for the deal.