EY advised Kvarken Link Oy in the sale of NLC Ferry Ab Oy (Wasaline)

EY advised the seller, Kvarken Link Oy — a company jointly owned by the cities of Umeå, Sweden and Vaasa, Finland — on the successful sale and closing of NLC Ferry Ab Oy (operating as Wasaline) to Stena Line.

Wasaline represents a unique asset in the Nordic ferry market. As the world's northernmost shipping company, Wasaline provides essential daily passenger and freight services connecting Vaasa, Finland and Umeå, Sweden. The company has distinguished itself as a sustainability pioneer, achieving carbon-neutral operations through its innovative hybrid vessel, Aurora Botnia, which runs on biogas and battery power, making Wasaline the first carbon-neutral ferry operator in the Baltic Sea.

Stena Line is one of Europe's leading ferry operators, with 20 routes across the continent. Founded in 1962, the family-owned company is headquartered in Gothenburg and employs 6,550 people.

EY supported the seller with comprehensive legal, financial, valuation and tax support throughout the entire transaction process. EY Law advised the seller on all legal matters, including drafting and negotiating agreements and assisting with municipal and authority approval processes. The transaction demonstrates EY's capability to effectively serve municipal clients through multidisciplinary advisory services, ensuring an efficient and fit-for-purpose M&A process.

The arrangement received approvals from relevant Finnish authorities and the transaction was completed on 5 February 2026.

More information can be found on Wasaline's website here.

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