The acquisition process was conducted through a competitive multi-stage bidding process. In addition to the loans, HCOB will integrate a team of experienced shipping professionals from NIBC. Ulrik Lackschewitz, CEO of HCOB, emphasized that this transaction enhances HCOB’s market share in the European shipping sector.
This acquisition not only diversifies but also enlarges HCOB’s shipping portfolio, which has experienced early repayments in recent years due to favorable market conditions. As of mid-2024, the combined shipping portfolio will constitute about 10 percent of HCOB’s total assets, consistent with previous years. The new loans will shift HCOB’s portfolio focus from container shipping to bulk carriers and chemical tankers, bolstering its market presence in Scandinavia, the Netherlands, and the UK.
The transaction is expected to be finalized by the end of June and will be reflected in the interim financial statements. The purchase price remains confidential as per the agreement between the parties.