Latest news from Heavy Lift & Project Forwarding International Magazine

EC approves German bank sale

The European Commission (EC) has approved the privatisation of German state-owned HSH Nordbank to a consortium of private equity funds led by J.C. Flowers and Cerberus.

HLPFI reported in March 2018 that a consortium of private investors would acquire HSH Nordbank for approximately USD1.2 billion. The EC said HSH Nordbank is being sold to the bidders with the highest and most credible offer, in an open and transparent process that resulted in a positive price. Under its new ownership's business plan, HSH Nordbank is expected to return to viability, said the EC.

Commissioner Margrethe Vestager, in charge of competition, said: "The German authorities have found a sustainable solution for HSH Nordbank that avoids the need for further public support for the bank. On the basis of the new private owner's business plan, HSH can become a viable market player, continuing to support economic development in Germany.”

europa.eu

www.hsh-nordbank.de

Heavy Lift | News

Marine insurance: Reducing costs and capacity thumbnail image

Marine insurance: Reducing costs and capacity

September 19 - Marine insurance providers are commoditising their products in order to reduce costs. The result, according to the International Union of Marine Insurance (IUMI), is a loss of expertise.
Views: 253
Zeaborn forms JV with MPC thumbnail image

Zeaborn forms JV with MPC

September 18 - Zeaborn Group has formed a joint venture with MPC Capital Group to handle the chartering and commercial management of a fleet of more than 160 container and bulk carriers.
Views: 627
DHL strengthens network in Middle East and Africa thumbnail image

DHL strengthens network in Middle East and Africa

September 18 - DHL Industrial Projects is opening a centre of excellence (COE) in Dubai as well as offices in Egypt, Ethiopia, Kenya and Turkey to coordinate complex logistics projects in the Middle East and Africa.
Views: 640
ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 490

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