GL: New shareholder Structure to Safeguard Independence

Friday, December 15, 2006
At a shareholders' meeting, Germanischer Lloyd's Executive Board announced the successful defense against the hostile takeover bid by a French competitor. The binding purchase offer by the Hamburg entrepreneur Günter Herz, with secure long-term perspectives for the Society, met with the approval of shareholders who were willing to sell. More than 40% of the shares changed hands. The Executive Board of Germanischer Lloyd has already approved the transfer of these registered shares. Last week, Günter Herz made all shareholders a firm and unconditional offer, with the aim of safeguarding the independence of the Society and the Hamburg location.

With this Hamburg Solution, Germanischer Lloyd will be able to continue its business model. For Executive Board Member Dr. Hermann J. Klein, this rapid response will yield only benefits for the customers, employees and shareholders alike. The Executive Board and Supervisory Board convened a second meeting for shareholders to provide further details about the future business development of the Society.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Today in U.S. Naval History: July 25

Today in U.S. Naval History - July 25 1779 - Amphibious expedition against British in Penobscot Bay, Maine 1863 - U.S. Squadron bombards Fort Wagner, N.C.

Cause of S.Korea Ferry Businessman's Death Remains Unknown

Yoo's body too badly decomposed to determine cause of death; mystery surrounding final days of de-factor owner of doomed ferry deepens. Yoo's son arrested in latest capture of family members.

DoD Awards Ingalls 'USS Ronald Reagan' Contract Modification

U.S. Department of Defense (DoD) informs that Huntington Ingalls Inc., Newport News, Virginia, is being awarded a US$13,759,894 modification to previously awarded cost-plus-award-fee,

 
 
Maritime Contracts Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0992 sec (10 req/sec)