News from 

Ziemann Group faces change of ownership

Ziemann Group has applied for the opening of insolvency proceedings at the local District Court of Ludwigsburg, Germany.

In November 2011 the shareholders of Ziemann transferred their shares to trustees. Together with the General Management of the Ziemann Group and the M&A department of the Berenberg Bank Hamburg the trustees initiated the investor process, which will now be successfully completed in the course of the insolvency proceedings.

Holvrieka Group intends to take over the sites in Ludwigsburg and Bürgstadt with the brewery and tank business. A basic agreement has already been reached. The takeover shall take place soon.

The Holvrieka Group has five operating subsidiaries in Europe and China. Holvrieka is part of the Hong Kong listed CIMC Enric Group. Last year the Group, generated a total turnover of 850 million Euros. (bmg)