Schliessen
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(from the left) KD CEO Dr. Achim Schloemer, River Advice CEO Robert Straubhaar and KD CFO Thomas Günther

KD Executive Board: "A decisive move for the future!"

KD River Invest GmbH takes over the majority of shares of Köln-Düsseldorfer Deutsche Rheinschiffahrt
The purchase agreement for the acquisition of the majority of the shares in Köln-Düsseldorfer Deutsche Rheinschiffahrt AG (KD) by River Invest is signed and sealed.

Premicon AG management board member Dr. Jan Erbguth and further related shareholders to Premicon have signed today the relevant papers on behalf of the seller representatives. Buyer of the traditional Cologne based company with 190 years of history is KD River Invest GmbH with headquarters in Cologne. Behind KD River Invest GmbH is River Advice AG, headquartered in Basel.

River Advice is the leading independent competence and service center for the river cruise industry in Europe. With custom-made, transparent modules, River Advice provides for tour operators and/or ship owners, consulting services, administrative management, and the full range of operational services (nautical-technical, hotel and catering, new buildings/conversions, average and insurances management).

River Advice CEO Robert Straubhaar is very pleased with the purchase of KD: „We are taking over a modern company with an excellent reputation in the management of excursion ships, in the event management and in the charter business. In addition, the subsidiary KD Cruise is one of the best in the management of river cruise ships“. Under the umbrella of KD AG, KD Cruise currently operates 34 river cruise passenger vessels with their nautical-technical expertise. The Luxembourg subsidiary KD Europe S.à r.l., also part of KD AG, ensures the operational processing of the fleet in the sectors nautical and gastronomy. Straubhaar identifies synergies, especially in the segments of technical engineering, purchasing, training and ship management.

KD Chairman Dr. Achim Schloemer sees the company on track for the future with the new owner: „We are very grateful to Premicon, as they have led KD into a solid future through the tough economic times during the turn of the millennium. We now enter with River Advice a new chapter in the history of KD. The core business of KD will continue, and the management team of KD remains on board. However, we have thoroughly analyzed the growth potential of possible synergies and the expansion of business in advance, and will now start the implementation process, step-by-step, with the economic strength and the expertise of River Advice”.

The economic transfer from KD to River Advice should take place by mid-October 2016. About three percent of the shares are free float. River Advice will submit a corresponding takeover bid to those shareholders.

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