DFDS, a Danish shipping and logistics group, completed the acquisition of a 98.8% stake in U.N. Ro-Ro, a freight ships operator, for $1.18bn. "Turkey's economy is among the world's 18th largest. Trade with the EU is extremely dynamic. Since U.N. Ro-Ro was founded in 1994, seaborne trade has continued to take market shares from road transport where congestion, border controls and customs formalities hinder the flow. Today, 55% of the trade is seaborne – and the share continues to grow, benefitting not least U.N. Ro-Ro, which is the major operator in this market," Niels Smedegaard, DFDS CEO & President.