The Offen Group’s takeover of Conti Group of Germany has outperformed thanks to an improvement in the container market in the months following the deal, says managing owner Claus-Peter Offen.

“Commercially, it’s a bit better than our expectations,” said Offen, who has mainly remained quiet on the deal since taking over Munich-based Conti in March 2017.

“We were a bit worried quite a few ships might be sold.