Germany-based shipping firm Claus-Peter Offen has revealed its intention to purchase Conti Group for an undisclosed amount.
The plan was announced after an agreement was reached by both companies' shareholders.
Offen will purchase full corporate shares of Conti Group as part of the deal, as well as the majority of shares in Bremer Bereederungsgesellschaft (BBG), in which an affiliate of Conti Holding holds stakes.
Conti Group will continue to operate as an independent company after the acquisition is complete. The company currently operates a total of 68 ships and employs around 2,000 people.
BBG is involved in the technical management of 35 bulk carriers, which includes 29 belonging to Conti.
Claus-Peter Offen said in a statement: “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.”
The Offen Group and its subsidiaries will be able to take control of a total of 169 ships under the arrangement, including 95 container ships, 37 bulkers and 37 product tankers.
The company operates 70 ships at present, with a total capacity of 417,000 twenty-foot equivalent units (TEU), including 33 large Postpanamax ships with up to 14,000TEU capacity.
Offen’s ships are mainly employed under long-term time charter agreements in scheduled services by large charter companies such as MSC, Maersk, CMA CGM, Hapag Lloyd and Hamburg.
The firm also currently has around 30 product tankers and eight bulk shipping units.