Stena Line is to expand outside Europe with a deal to take a stake in a Moroccan ferry firm operating on the Strait of Gibraltar.
The Swedish company has agreed to acquire 49% of Africa Morocco Link for an undisclosed sum.
AML is based in Tangier operating a ferry route between Tanger Med in Morocco and Algeciras in Spain.
A new high-speed route for passengers and cars is due to be added this summer between Tangier Ville and the Spanish port of Tarifa.
The agreement is subject to approval by Moroccan authorities.
Stena Line chief executive Niclas Martensson said: “We are always looking to secure new business opportunities that will make us last and be resilient in the long run.
“The Strait of Gibraltar is a strategic location for passengers travelling between Africa and Europe as well as for global trade, and freight volumes in the area are expected to grow in the upcoming years due to the positive industrial growth and international trade in Morocco.”
Stena Line operates 38 vessels across 18 routes in northern Europe operating 26,000 sailings a year.