MS ‘Deutschland’ Beteiligungsgesellschaft mbH
MS DEUTSCHLAND to carry on operating under the German flag with a new majority shareholder
MS ‘Deutschland’ Beteiligungs GmbH / Key word(s): Acquisition PRESS RELEASE MS DEUTSCHLAND to carry on operating under the German flag with a new majority shareholder – Callista Private Equity to continue present management strategy – Christopher Nolde takes stake in MS Deutschland Holding as a minority shareholder Neustadt in Holstein, 8 January, 2014. MS Deutschland Holding, the majority shareholder of MS ‘Deutschland’ Beteiligungsgesellschaft mbH (‘MS Deutschland GmbH’) with a holding of 95%, is gaining a new majority shareholder in the form of Callista Private Equity GmbH & Co. KG (‘Callista Private Equity’). Callista Private Equity, a Munich-based private equity investor, is acquiring the majority stake in MS Deutschland Holding from AURELIUS AG (‘AURELIUS’), which is to retain a minority interest. Callista Private Equity is planning to retain and press ahead with the management strategy initiated by MS Deutschland Holding together with the existing management team. The ship, MS DEUTSCHLAND, will continue to operate under the German flag. Christopher Nolde, who joined the management of MS Deutschland GmbH at the beginning of 2013, is also taking a stake in MS Deutschland Holding as a minority shareholder under the terms of the transaction. In his function as Managing Director, Christopher Nolde will continue to help expedite implementation of the strategy that the company is applying and shape the consistent positioning of the DEUTSCHLAND in the luxury segment. The transaction, which was preceded by a due diligence process and lengthy discussions between the parties lasting several weeks, has no impact whatsoever on the existing collateral concept for the corporate bond issued by MS Deutschland GmbH. This means that, as was already the case in 2013, the interest payment in 2014 will if necessary again be covered by appropriate credit lines provided by AURELIUS. The present company plans call for MS Deutschland GmbH to be in a position to service the interest payments on the bond completely from its own resources from 2015 at the latest. At the same time, the bond with a total volume of EUR 50 million continues to enjoy the first charge on the ship mortgage. MS Deutschland GmbH completed the 2013 financial year in line with the revenue and earnings forecast it published in September 2013. Among other things, the number of regular guests booking a stay on the DEUTSCHLAND increased by around 14% year-on-year. The company expects to publish its complete annual financial statements in May 2014 at the latest. The management is confident about the 2014 financial year. As of January 6, 2014, the order book shows around 30 more preliminary bookings for the current financial year as at the same point in time last year. ‘I’m really looking forward to working with Callista Private Equity. Together, we intend to continue our charm and service offensive and systematically pursue the model of the DEUTSCHLAND as a ‘grand hotel of the high seas’,’ says Christopher Nolde, Managing Director of MS Deutschland GmbH. ‘There are very few German brands that embody dreams and desires for the finer things in life like the Traumschiff, and AURELIUS has achieved considerable success together with the management team since acquiring the company in 2010. Nevertheless, there is still plenty to do and the DEUTSCHLAND is a very demanding management task overall,’ says Olaf Meier, CEO of Callista Private Equity. ‘With the many years of experience we have gained in successful company development, we specialize in situations like this. Callista Private Equity is keen to promote continuity and successful performance over the long run, so we’re delighted that Mr. Nolde has agreed to remain CEO of the company. What’s more, the DEUTSCHLAND is an attractive ship with a fantastic underlying brand and an outstanding team.The latest marketing trends for the luxury cruise ship MS DEUTSCHLAND are very positive. This is reinforced by the fact that various factors constraining the cruise industry in 2013 are no longer applicable overall. Against this backdrop, Callista Private Equity believes this is a good time to invest in the DEUTSCHLAND.’
About MS ‘Deutschland’ Beteiligungsgesellschaft mbH: MS ‘Deutschland’ Beteiligungsgesellschaft mbH, headquartered in Neustadt in Holstein (Germany), operates cruises worldwide throughout the year as the owner of the ocean cruise liner MS DEUTSCHLAND, also known as the ‘Traumschiff’ from the television series of the same name. With a length of 175m and a width of 23m, MS DEUTSCHLAND as ‘grand hotel of the high seas’ has a total of 294 passenger cabins. The ship received the award of ‘Best Ship of 2013’ from both the Lufthansa City Center travel agencies and Diners Club. With Reederei Peter Deilmann GmbH, Touristik-Bureau International GmbH and Deutsche Kreuzfahrt Management Services GmbH, MS ‘Deutschland’ Beteiligungsgesellschaft mbH also includes fully-owned subsidiaries that look after sales, marketing and operation of the cruise ship. To find out more: This report contains forward-looking estimates and statements that were made on the basis of the information available at this time. Forward-looking statements reflect the point of view at the time they are made. MS ‘Deutschland’ Beteiligungsgesellschaft mbH would like to point out that the actual circumstances and, consequently, the actual results realised at a later date may differ from the forecasts presented in this report for a variety of reasons. End of Corporate News 08.01.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | MS ‘Deutschland’ Beteiligungs GmbH | |
Am Holm 25 | ||
23730 Neustadt in Holstein | ||
Germany | ||
Phone: | 04561/396-0 | |
Fax: | 04561/396-121 | |
E-mail: | info@msdeutschland-gmbh.de | |
Internet: | www.msdeutschland-gmbh.de | |
ISIN: | DE000A1RE7V0 | |
WKN: | A1RE7V | |
Listed: | Frankfurt in Open Market (Entry Standard) | |
End of News | DGAP News-Service |
247339 08.01.2014 |