Hamburg shipowner Claus-Peter Offen has announced plans to take over Munich-based Conti Group.
Under the agreement between the two companies, Claus-Peter Offen will take over 100 percent of the shares of Conti Group as well as a majority of shares in technical ship manager Bremer Bereederungsgesellschaft (BBG). The Conti Group will continue to operate as an independent company after the takeover.
Conti Group has a fleet of 30 boxships, 8 product tankers and 29 bulk carriers, while BBG manages 35 bulk carriers including the 29 Conti bulk vessels.
Once the takeover is complete, Claus-Peter Offen will have a total of 169 vessels, including 95 boxships with total capacity of 631,000teu, 37 bulkers and 37 product tankers.
“For us, this takeover is a further step in our growth strategy. Conti is an excellent name and is an optimal fit for our group,” Claus-Peter Offen said in a release.
The consolidation between the two German companies comes shortly after Germany’s Zeaborn Group took over the business operations and international organisation of compatriot Rickmers-Linie.