The Finnish Effoa company has taken over the passenger ship interests of Swedish Johnson Line. Effoa is listed on the Helsinki stock exchange and will now seek to be listed in Stockholm as well, giving the new and larger company access to the capital markets in both countries.
Last year, the two companies created Effjohn International, in which each held a 50 percent interest, seeking to pool their passenger ship resources and expertise. Effjohn will remain the central administration for the new company, which will have a fleet of 18 vessels and total assets valued at about $1 billion and liquid funds of $300 million. Its aim is to become "one of the leading players" in the international cruise and ferry business.