Ernst Russ AG

Regulatory Filings • Aug 26, 2021

News Details

Corporate | 26 August 2021 13:52

Ernst Russ AG: Acquisition of a 1,300 TEU container vessel

DGAP-News: Ernst Russ AG / Key word(s): Acquisition

26.08.2021 / 13:52

The issuer is solely responsible for the content of this announcement.

Hamburg, 26 August 2021 – A subsidiary of Ernst Russ AG acquired a 2010 built container vessel with a total capacity of around 1,300 TEU from EF Eliza Ltd., a wholly owned subsidiary of ElbFeeder Inc.

Ernst Russ AG is holding a majority share in ElbFeeder Inc. of around 52%. The icelandic shipping company Eimskip has a stake of around 48% in the holding company.

The selling company EF Eliza Ltd. was already fully consolidated in the consolidated financial statements of Ernst Russ AG. With this transaction, the Ernst Russ Group will fully participate in the economic success of this vessel in the future.

The delivery of the ship is scheduled for September 2021. The parties have agreed not to disclose the transaction details.

About Ernst Russ Group : Ernst Russ AG is an international shipping company and maritime investment manager based in Hamburg. Parts of the company date back to 1893.

Contact:

Ernst Russ AG

Anika Hillmer

Investor Relations

Tel. +49 40 88 88 1 1800

E-Mail: ir@ernst-russ.de

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26.08.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	Ernst Russ AG
	Elbchaussee 370
	22609 Hamburg
	Germany
Phone:	+49 (0)40 88881-0
Fax:	+49 (0)40 88881-199
E-mail:	ir@ernst-russ.de
Internet:	www.ernst-russ.de
ISIN:	DE000A161077
WKN:	A16107
Listed:	Regulated Unofficial Market in Frankfurt (Scale), Hamburg, Tradegate Exchange
EQS News ID:	1229153

End of News	DGAP News Service