20.03.2018
Ernst Russ AG DE000A161077
DGAP-News: The Ernst Russ Group has sold its shares in Marenave Schiffahrts AG
DGAP-News: Ernst Russ AG / Key word(s): Disposal
The Ernst Russ Group has sold its shares in Marenave Schiffahrts AG
20.03.2018 / 17:49
The issuer is solely responsible for the content of this announcement.
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The Ernst Russ Group has sold its shares in Marenave Schiffahrts AG
Hamburg, 20 March 2018: The focus of the Ernst Russ Group's work was on
restoring the business activities and realigning Marenave Schiffahrts AG in
the maritime sector. This was concurrent with the strategic approach of
Ernst Russ Group and offered potential to enter into a successful
partnership.
After acquiring a larger block of shares in January 2018, Deutsche Balaton
AG held a total of 21.34 % of all shares. The differing views of both major
shareholders, Ernst Russ Group and Deutsche Balaton AG, regarding the
business model and the strategic realignment of Marenave Schiffahrts AG,
made the constructive and target-orientated implementation, required for the
company, difficult.
In light of the above, Ernst Russ Group made a conscious decision to
withdraw from Marenave Schiffahrts AG, resulting in an outcome that was
satisfactory for all parties. The Ernst Russ Group will continue to
systematically pursue its strategy and drive forward promising alternatives
with strategic partnerships in the maritime sector.
All parties involved have agreed not to disclose the details of the
transaction.
Contact:
Ernst Russ AG
Alan Alvarez
Investor Relations
Tel. +49 40 88 88 1 1800
E-Mail: [email protected]
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20.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Ernst Russ AG
Burchardstraße 8
20095 Hamburg
Germany
Phone: +49 (0)40 88881-0
Fax: +49 (0)40 88881-199
E-mail: [email protected]
Internet: www.ernst-russ.de
ISIN: DE000A161077
WKN: A16107
Listed: Regulated Unofficial Market in Frankfurt (Scale), Hamburg,
Tradegate Exchange
End of News DGAP News Service
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666419 20.03.2018
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