HCI Capital Acquires Ernst Russ GmbH

Maritime Activity Reports, Inc.

April 23, 2016

Schiff Courtesy HCI Capital

Schiff Courtesy HCI Capital

 HCI Capital AG acquires the long-established Hamburg shipping company Ernst Russ GmbH & Co. KG. The HCI Group, which early in 2016 already the majority of the shares of König & Cie. Group had taken, thus expanding again the controlled fleet and strengthen its maritime services division. This HCI consistently pursued the strategic positioning as an asset and investment manager with a maritime focus.

The Ernst Russ GmbH & Co. KG is one of the oldest, internationally known Hamburg shipping companies and has existed since 1893. They bereedert a fleet of seven container and four RoRo ships and has different interests. These include the Combi Trade GmbH, an international shipyard mediation, and participation in the chartering broker Ernst Russ Shipbroker GmbH & Co. KG.

Through the acquisition of Ernst Russ GmbH & Co. KG, the HCI Group has now already around 40 ships in active management and approximately 180 fund ships, which are managed by partners shipowners. It strengthens the Ernst Russ GmbH & Co. KG Shipbroker its service portfolio in the field of chartering and has future through the Combi Trade GmbH have preferential access to a large shipyard grid.

Jens Mahnke, board member of the HCI Capital AG said, "With the acquisition of Ernst Russ GmbH & Co. KG, we are expanding our Fleet operated fleet, complete our maritime services and underline the consistency with which we pursue our strategy. The name Ernst Russ is international maritime tradition, quality and responsibility. In this sense, we also provide the HCI Group in difficult markets to successful businesses. We are proud of. "

The acquisition of Ernst Russ GmbH & Co. KG by means of a contribution in kind, due to which the share capital of HCI Capital AG will be increased by 6,225,000 EUR to 32,434,030 EUR. Was accompanied the transaction by KPMG, Deloitte and TaylorWessing .

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