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Ernst Russ AG
Delisting Announcement • Mar 20, 2018
5393_rns_2018-03-20_817dd17f-252a-45f4-9c7c-a821cd9ded22.html
Delisting Announcement
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News Details
Corporate | 20 March 2018 17:49
The Ernst Russ Group has sold its shares in Marenave Schiffahrts AG
DGAP-News: Ernst Russ AG / Key word(s): Disposal
20.03.2018 / 17:49
The issuer is solely responsible for the content of this announcement.
The Ernst Russ Group has sold its shares in Marenave Schiffahrts AG
Hamburg, 20 March 2018: The focus of the Ernst Russ Group’s work was on restoring the business activities and realigning Marenave Schiffahrts AG in the maritime sector. This was concurrent with the strategic approach of Ernst Russ Group and offered potential to enter into a successful partnership.
After acquiring a larger block of shares in January 2018, Deutsche Balaton AG held a total of 21.34 % of all shares. The differing views of both major shareholders, Ernst Russ Group and Deutsche Balaton AG, regarding the business model and the strategic realignment of Marenave Schiffahrts AG, made the constructive and target-orientated implementation, required for the company, difficult.
In light of the above, Ernst Russ Group made a conscious decision to withdraw from Marenave Schiffahrts AG, resulting in an outcome that was satisfactory for all parties. The Ernst Russ Group will continue to systematically pursue its strategy and drive forward promising alternatives with strategic partnerships in the maritime sector.
All parties involved have agreed not to disclose the details of the transaction.
Contact:
Ernst Russ AG
Alan Alvarez
Investor Relations
Tel. +49 40 88 88 1 1800
E-Mail: [email protected]
20.03.2018 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Ernst Russ AG |
| Burchardstraße 8 | |
| 20095 Hamburg | |
| Germany | |
| Phone: | +49 (0)40 88881-0 |
| Fax: | +49 (0)40 88881-199 |
| E-mail: | [email protected] |
| Internet: | www.ernst-russ.de |
| ISIN: | DE000A161077 |
| WKN: | A16107 |
| Listed: | Regulated Unofficial Market in Frankfurt (Scale), Hamburg, Tradegate Exchange |
| End of News | DGAP News Service |