Rickmers Group in large-scale KG ship sale

German Rickmers Group has used its partnership with American Apollo Global Management to divest deficit-inducing ships financed by the dying KG fund companies, says Alphaliner.

The partnership established with American private equity fund Apollo Global Management in September 2013 has enabled German Rickmers Group to divest a big part of the company's loss-inducing fleet of KG financed container ships.

In 2013 Rickmers sold a total of 27 ships that were financed through the dying KG scheme, so that the company only had 22 KG units left in its fleet by the end of 2013, according to Alphaliner.

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