Joint Venture Between Rickmers Group and Funds Affiliated with Apollo Global Management Acquires Six Hamburg Süd Vessels

18-Feb-2014

A joint venture between Hamburg-based Rickmers Group and funds affiliated with Apollo Global Management, LLC (together with its consolidated subsidiaries "Apollo")(NYSE: APO) has purchased six vessels from Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft ("Hamburg Süd"), a company of the Oetker Group, for USD 176 million. The vessels have been chartered back to Hamburg Süd for a period of three years. The 2006-built Panamax-Reefer-Container Vessels have a capacity of 54,000 dwt each and are predominantly employed in the North-South Trades.

About the Rickmers Group
With its Head Office in Hamburg, Germany, the Rickmers Group is a well-established, international service provider for the shipping industry as well as for ship-owners and shipping lines. Its international structure comprises over 20 offices in eleven countries and more than 50 agents worldwide. The Rickmers Group's business activities are grouped into three segments: Maritime Assets, Maritime Services and the Rickmers Line. The Group employs about 3,500 people at sea and ashore and controls a fleet of more than 100 ships, thereof 55 own.

In the Maritime Assets segment the Rickmers Group is active as Asset Manager for its own vessels and also for those of third parties. Rickmers initiates and coordinates shipping projects, organises financing and acquires, charters and sells ships. In the Maritime Services business segment the Rickmers Group provides shipmanagement services for the Rickmers Group's own vessels as well as for those owned by third parties; these services comprise technical and operational management, crewing, newbuild supervision, consultancy and insurance-related services. In the Rickmers Line business segment the Rickmers Group operates as a shipping line for breakbulk, heavy lift and project cargo, and additionally offers individual voyages.

About Apollo Global Management LLC
Apollo is a leading, global alternative investment fund manager with offices in New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of approximately USD 161 billion as of December 31, 2013, invested in private equity, credit and real estate funds within a core group of nine sectors in which Apollo has considerable knowledge and resources. For further information on Apollo please visit: www.agm.com.

Rickmer Linie, press release