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German bank places bid on Rickmers Holding

German bank Schnigge will buy bonds in financially vulnerable Rickmers Holding. The bank hopes to buy for EUR 35.5 million.

Photo: PR-foto/Rickmers Maritime

Financially struggling Rickmers Holding has received a voluntary purchase offer from Germany's Schnigge, which hopes to buy bonds in the bankrupt company.

The bank placed a bid to buy up bonds for EUR 35.5 million, corresponding to 8.875 percent of Rickmers Holding, states Schnigge. The offer will run from Jan. 5 and until the end of the month.

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