Ernst Russ has emerged as a significant shareholder in struggling German shipowner Marenave Schiffahrts, as restructuring talks to pave the way for another investor are ongoing.
Ernst Russ has acquired around 22% of the shares in the Hamburg-based boxship, bulker and car carrier owner Marenave.
But the German-listed asset manager is not the investor with which Marenave and its banks are hoping to conclude restructuring talks aimed at avoiding insolvency.
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