ruben.maritime: GL shareholders ask for more time

GL shareholders ask for more time

HAMBURG 08 December – Germanischer Lloyd shareholders have asked for more time and more information about the class society’s business prospects as yet another takeover bid was made for GL. A meeting of 90% of GL’s 50 shareholders in Hamburg made no decisions about the hostile euro500M ($657M) takeover bid from France’s Bureau Veritas or the friendly takeover offer made yesterday by German multi-millionaire businessman Gunter Herz, the main shareholder in German sportsware giant Puma. “The shareholders have asked the executive board for more detailed information about future business developments,” GL said in a statement. “In another meeting in the next week, the shareholders will have a concrete examination of the future outlook.” Meanwhile, another friendly takeover bid for GL was submitted today by Germany’s TÜV SÜD, a large company whose main business is annual technical roadworthiness inspections of automobiles on behalf of the German government. A TÜV SÜD spokesman said the company had on Friday submitted a bid for 50.1% of GL. “We made the bid on the request of GL, this is not a bluff,” he said. Both GL and TÜV SÜD are involved in similar technical standard certification, he said. GL would be integrated into the other company as an independent division.

Etiquetas: classification societies, international maritime affairs