First State and Hermes completed the acquisition of Scandlines for €1.7bn.

First State and Hermes, two long-term infrastructure investors representing predominantly European pension funds, completed the acquisition of a 65% stake in Scandlines, a ferry operator, from 3i Group, a multinational private equity, for €1.7bn. “During our investment period, Scandlines has been transformed from a state-owned business into an important infrastructure asset securing the central transport corridors between Germany and Denmark. Between 2012 and 2016, the company has invested c. €365m in green technology, new ferries and the upgrading of its port facilities to establish itself as a truly sustainable and reliable traffic machine," Peter Wirtz, 3i Germany Partner.