German Federal Cartel Office News

MacGregor, a part of Cargotec, has yesterday received a clearance decision from the German Federal Cartel Office (Bundeskartellamt) for the company's acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February, 2018.  The completion of the intended transaction is still subject to regulatory approvals in China and South Korea. MacGregor expects to receive these approvals by the end of 2018 and to complete the transaction, according to the agreement, as soon as possible thereafter.

The Hamburg-based Schulte Group said it has received clearance by the German Federal Cartel Office for the acquisition of the LNG specialist PRONAV. With this strategic move, the family-owned ship owner and manager continues to increase its capabilities and capacity in the growing liquefied natural gas (LNG) market. Through the acquisition of PRONAV, the Schulte Group has increased the number of vessels under full management in its third-party management fleet by six additional LNG carriers (LNGC). At present, the Schulte Group provides full management for three LNGC and crew management for 21 LNGC. Five LNGCs with a capacity of 173…

Hamburg shipowning and management group Bernhard Schulte has signed a contract for the acquisition of 100% of the shares in the prestigious LNG ship manager PRONAV - subject to merger approval of the German Federal Cartel Office (Bundeskartellamt). The worldwide operating Schulte Group owns about 100 vessels (mainly container, tanker, bulker) and manages 600 vessels in all segments. PRONAV, based in Hamburg, is an internationally renowned ship manager specialized in large LNG tonnage. Schulte Group is currently providing management services for 23 LNG carriers and has one LNG bunkering vessel and one 174,000cbm LNG carrier on order which will join the Schulte fleet in 2018.

German shipping group Rickmers, which filed for insolvency in June, said on Thursday its ship management unit had the all-clear to continue business after it was bought by Bremen-based Zeaborn Group and owner Bertram Rickmers. The company said in a statement that a consortium consisting of Zeaborn and Bertram Rickmers bought the division, which has its main sites in Hamburg, Singapore and Cyprus after they won a bidding process. "It has only taken a few months after preliminary self-administration of the assets of Rickmers Holding AG was ordered to find a solution for continuing the business…

Radio Holland Group B.V. and Imtech N.V. (technical services provider in Europe) announce that the intended acquisition of Radio Holland Group, international specialist in marine satellite and radio communications, automation, and observation and navigation systems is definitive. The acquisition has been approved by both the NMa (Dutch Competition Authority) and German Bundeskartellamt (German Federal Cartel Office). This acquisition will almost double revenues of Imtech in the maritime market, which yields a place it in the global top 5. The acquisition price, including an earn-out, is approximately 47 million euro and will be paid in cash.

Radio Holland Group B.V. announced that Imtech N.V. intends to acquire its shares. The acquisition will almost double the revenues of Imtech in the maritime market and place it in the global top five of the global marine market. The acquisition fits the Imtech strategy of further international growth in the maritime market. Both parties have signed an agreement regarding the transfer of shares of the current owners, ABN AMRO Capital (56%) and the Foundation Co-Investors Radio Holland Group (44%) in which investors and current RH management participate. In this regard, Imtech will acquire all Radio Holland Group shares, including equity participation and holdings. It is agreed with the management of the Radio Holland Group that they will continue to dedicate themselves to the organization.