Corporate | 11 January 2008 11:11
HCI Capital AG / Joint Venture
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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HCI subsidiary wins international partner for its shipping business
General Electric Transportation Finance Acquires Stake in HAMMONIA Shipping
Unit
• General Electric subsidiary acquires a 32 per cent stake via a capital
increase
• Investment provides the foundation for accelerated, long-term growth
• Cooperation to provide positive momentum for HCI Capital AG
Hamburg, 11 January 2008 – GE Transportation Finance has agreed to acquire
a 32 per cent stake in HAMMONIA Reederei GmbH & Co. KG, a joint venture of
Peter Döhle Schiffahrts KG and HCI Capital AG. The subsidiary of US General
Electric will subscribe a capital increase against cash contribution to
acquire the stake in the company’s share capital. Peter Döhle and HCI will
hold identical stakes. Wolfgang Essing, Chairman of the Management Board of
HCI Capital AG, said that 'the fact that Döhle Group and HCI Capital were
able to join forces with a General Electric Group entity clearly
demonstrates their strong reputation in the international financial markets
and the trust placed in them.'
GE Transportation Finance has been a leading global provider of finance to
the international logistics and transport sectors for about 30 years now.
Besides maritime shipping, the company is active in other transport sectors
such as rail freight and port infrastructure, offering equity finance
alongside debt, leasing, and structured products. Its investment in
HAMMONIA will give GE Transportation Finance exposure to the fast-growing
container shipping segment. Completion of the transaction is subject to the
necessary regulatory approvals.
HAMMONIA Reederei was established in September 2003 to operate a fleet of
container carriers and dry bulk ships. The company operates numerous
container ships financed by closed-end funds managed by HCI, as well as the
entire fleet of HCI HAMMONIA SHIPPING AG. HAMMONIA’s fleet currently
consists of 21 ships with a maximum capacity of 8,200 TEU. 15 additional
ships have already been ordered, and are currently being built. The
subsidiary provided a significant contribution to HCI Group’s consolidated
results during the past financial year.
The cash contribution will not only increase HAMMONIA’s equity capital, but
will also boost its financial flexibility for future development projects.
Moreover, the investment by GE Transportation Finance – together with the
new shareholder’s triple-A rating – will expand HAMMONIA’s financing
options.
The stake held in HAMMONIA is a key asset to HCI Group: with the new
cooperation, HCI expects to generate further positive contributions in the
future.
About HCI:
Established in 1985, the HCI Group creates closed-end funds and structured
investments in shipping, real estate, private equity fund of funds, and in
the secondary life insurance market, as well as asset creation plans. Since
1985, over 97,500 clients have invested approximately EUR 5.0 billion in
457 issues, with an investment volume totalling more than EUR 12.77
billion, making HCI one of the leading financial services system houses in
Germany. HCI Capital AG has been listed on the stock exchange since October
2005. The HCI share has been included in the SDAX index of the Frankfurt
Stock Exchange since 19 December 2005, and in the Hamburg Regional Index
(HASPAX) since 1 September 2006.
Press contact:
Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88881-236
ingo.pfeil@hci-capital.de
Investor Relations
Dr. Olaf Streuer
Head of Investor Relations
Phone: +49 40 88881-125
olaf.streuer@hci-capital.de
11.01.2008 Financial News transmitted by DGAP
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Language: English
Issuer: HCI Capital AG
Bleichenbrücke 10
20354 Hamburg
Deutschland
Phone: +49 (0)40 88881-0
Fax: +49 (0)40 88881-109
E-mail: ir@hci.de
Internet: www.hci.de
ISIN: DE000A0D9Y97
WKN: A0D9Y9
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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