April 18 - Rickmers Holding and E.R. Capital Holding are reviewing a potential merger of their respective ship management units - Rickmers Maritime Services and E.R. Schiffahrt.
Both companies have signed a declaration of intent to merge the two business units into a global joint venture, which would manage around 220 ships.
According to Rickmers, the aim of the merger is to pool strengths in a highly competitive market to promote expansion of the ship management business and increase the new company's capabilities.
The parties claim that the potential merger will not have any impact on the terms of the corporate bond issued by Rickmers Holding and listed on the Frankfurt Stock Exchange.
Rickmers also believes that the merger will not require modifications to be made to its forecast for the 2016 financial year.
The review process will take several weeks, said Rickmers.