As anticipated, Rhenus group has acquired a controlling interest in Deutsche Binnenreederei
The negotiations between Rhenus, OT Logistics Capital Group and Carl Robert Eckelmann were originally reported in Germany towards the end of May. The latter companies held 97.2% of DBR, which has now been sold to Rhenus. The price has not been disclosed.
Deutsche Binnenreederei has offices in Berlin and Hamburg and mainly operates on waterways in eastern German and Poland, where it focuses on dry bulk, heavy lift freight and container shipments. The company has over 700 vessels with a total carrying capacity of around 400,000 tons (DWT) at its disposal.
“Deutsche Binnenreederei promises to be an excellent addition to our current activities,” said Thomas Maaßen, spokesman for the Rhenus Transport management. “The takeover will enable us to strengthen our presence, especially in the eastern German canal network and in Poland, but also in the Benelux countries, France and along the Danube. Furthermore, the container business fits in very well with our activities at Contargo and NWL Norddeutsche Wasserweg Logistik.”
Konrad Hernik, CEO of OT Logistics, said: “With the sale of our shares in Deutsche Binnenreederei, our goal is to focus primarily on developing our port activities and forwarding services, which will allow us to build a full logistics chain from and to the target customer.
“The transaction with the Rhenus Group opens a new phase in the cooperation between our companies, where the wealth of experience and advantages of both parties will allow us to establish a new long-term relationship in the inland waterway segment. This transaction is also one of the key stages in the implementation of the recovery plan and will significantly reduce OT Logistics Capital Group debt to its financial creditors.”
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