CBRE Caledon to partner in acquisition of Norway's Norled

CBRE Caledon Capital Management and CapMan Infra have agreed to jointly acquire Norwegian ferry and express boat operator Norled AS. Terms weren't released for the deal, which is expected to close next month. The seller is Det Stavangerske Dampskibsselskab. Founded in 1855, Norled operates a fleet of 59 ferries and 28 express boats that transport more than 17 million passengers and 9 million cars annually. CBRE Caledon, a Toronto-based infrastructure and private equity manager, said the deal is the first by its London office, opened last year. CBRE Caledon was formed in 2017 with CBRE Group’s acquisition of a majority stake in Caledon Capital Management.

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