V.Group to acquire Norddeutsche Reederei

Norddeutsche Reederei is one of the leading players in the Hamburg market with 150 years of history, managing a container fleet of 46 vessels totaling 229.847 TEU Norddeutsche Reederei is one of the leading players in the Hamburg market with 150 years of history, managing a container fleet of 46 vessels totaling 229.847 TEU

OCTOBER 16, 2018 – Hamburg headquartered Norddeutsche Reederei, which manages a 46 vessel containership fleet, is to be acquired by V.Group under an agreement signed with Norddeutsche Vermögen Group.

The current Norddeutsche Reederei team will continue to manage the fleet out of the present premises in Hamburg and will be joined by V.Group's existing Hamburg-based technical management team.

V.Group says further investment will be made to create a center of excellence for the management of global container fleets.

As part of the deal, 35 vessels currently owned by Norddeutsche Vermögen Group will be transferred to a new standalone structure, Northern Shipping Holding. Established with the support of the financing institution, it brings together the capabilities of V.Group, the existing ship manager, and Hamburg chartering brokers, Blue Net Chartering, to optimize the fleet's financial performance.

Dr. Bernd Kortüm, founder and sole shareholder of the Norddeutsche Vermögen Group said: "I'm very happy that we found a strong partner for my company in V.Group. The container shipping industry continues to face a challenging market environment, but with the backing of V.Group, Norddeutsche Reederei has an exciting opportunity to become part of a center of excellence for global containership management. This will also be a substantial boost for Hamburg's shipping community."

"The acquisition of Norddeutsche Reederei allows V.Group to strengthen its position as the global leader in marine support services," said V.Group CEO Ian El-Mokadem. Norddeutsche Reederei's highly experienced team will significantly enhance V.Group's expertise in the management of container vessels to the highest quality level. With the addition of the capabilities of Norddeutsche Reederei, V.Group will strive to continue setting new standards and be a driving force in transforming the industry."

The transaction is subject to certain closing conditions including antitrust approval.

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