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CMB to acquire 27% stake in Anglo-Eastern Group

CMB to acquire 27% stake in Anglo-Eastern Group

Hong Kong: Antwerp-based Compagnie Maritime Belge (CMB) has announced that its wholly-owned subsidiary Bocimar Hong Kong plans to acquire  a 27% stake in Hong Kong-based Anglo-Eastern Group (AEG). In a statement, CMB said, "Through this acquisition CMB will establish itself in this specialised sector and secure its access to ship management and crew management services."

AEG, which provides ship management, crew management and new building consultancy services to third parties worldwide, boasts over 7,500 professional crewmembers and more than 500 shore based staff.

"CMB is a shipping group that has the same core values of controlled growth, high quality standards and technical competence as Anglo-Eastern," said Peter Cremers, AEG ceo (pictured). "In terms of our managed fleet, we already have most of the CMB fleet under our management so do not expect any immediate fleet changes, nor any staff changes at the management level of the group. The Anglo Eastern group will continue to be managed by its present managing shareholders as a truly independent third party shipmanager.

"Over the longer term, we obviously look forward to also having access to the wide range of connections of our new shareholders, to their various shipping partners and friends.' he added.

The acquisition is still subject to due diligence and is expected to be finalised by the end of August.  [10/07/07]