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Rescue plan for German shipowners rejected

An investment agreement with Offen Group and an insurance company has fallen apart for shipowner Marenave, which has long been fighting for survival.

A rescue plan for the struggling German shipowner Marenave Schiffahrts has fallen apart after the two investors, Offen Group and insurance company DEVK, have pulled out.

Prior to a general assembly of Marenave, the two investors had demanded a capital reduction in Marenave, but the general meeting decided on a postponement on the recommendation of the carrier's management and board. 

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