SDK, a shipping and logistics company, agreed to merge with FREJA, a provider of logistics and transportation solutions, in a $162m deal. Pending the approval from the relevant competition authorities, SDK will become a 75% shareholder in the newly merged company. The remaining 25% ownership will be held by the current majority shareholder and founder of FREJA, Jørgen Hansen, along with the management team. The newly formed entity will have offices in eight different countries, namely Denmark, Sweden, Norway, Finland, Poland, Holland, Spain and China. "We have been looking for a strong company with equal values to join forces with in order to achieve our long-term goals. This merger will create a platform for further growth, both organically and by acquisitions. When the merger is finalized, we will be better positioned to compete in the market through scale and by combining existing competences and knowledge from our experienced and valuable employees in both FREJA and SDK’s logistic companies," Søren Gran Hansen, SDK CEO.