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Munich-based industrial holding company Aurelius AG has taken a
majority stake in Germany's Peter Deilmann Shipping, operator of the luxury
cruise ship Deutschland. Aurelius has injected a undisclosed 'double-digit
million euro' amount to strengthen the company's capital base.
The Neustadt-based family enterprise co-run by twin sisters,
Hedda and Gisa Deilmann, generated revenues of around €50m in the last fiscal
year and was is need of additional capital. The 42-year-old twins inherited the
company after the death of their father Peter seven years ago.
Built in 1998 by HDW in Kiel, Deutschland is the flagship of the company. The
vessel also features in the German TV series Traumschiff and is the only cruise
ship registered under the German flag.
Hedda Deilmann says: 'We are very happy that we have found a safe harbor in a
financially strong and long-term investor after these stormy months.'
This is confirmed by Gisa Deilmann: 'Our clients have very high quality
requirements. In Aurelius we have found a partner understanding our guests’
needs and supporting our Endeavour to offer quality of the absolute luxury
segment.'
In June 2009, Peter Deilmann Reederei applied for protection from creditors for
its eight vessel riverboat division, saying it would focus on ocean cruising
going forward. The Neustadt headquarters and Deutschland were not included in
the insolvency proceedings.
In a statement at the time, Deilmann described the collapse of the river
division as ‘inevitable’ after banks called in loans and requests for assistance
with liquidity were denied.
Dr. Dirk Markus, ceo of Aurelius, says: 'We are pleased to board the
Deutschland. The vessel represents amazing travel experiences of the best German
cruising tradition. We will extend this top class positioning and actively
support the company in its further development.'
The transaction is still subject to approval by the antitrust authorities as
well as the agreement of the accompanying consortium of banks consisting of
Deutsche Bank Shipping, HSH Nordbank, Kreditanstalt für Wiederaufbau (KfW) and
DVB Bank.
Aurelius focusses on the acquisition of companies with potential for development
and has longstanding investment and management experience in various industries.
It has been involved in more than 50 corporate acquisitions.
With offices in Munich and London and portfolio companies in Germany, UK,
France, Ireland, Poland, the Netherlands and Switzerland, Aurelius operates
throughout Europe. |
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Worldwide Travel & Cruise Assoc., Inc.
150 S. University Dr. Ste E,
Plantation, FL 33324 - USA
Tel: +1 954 452 8800 Fax: +1 954
252 3945
EMail:
sales@cruiseco.com |
