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Imperial has sold its 90% holding in Multinaut Donaulogistik Gesellschaft m.b.H. to Peter Jedlicka, Multinaut's Managing Director.
Jedlicka sold the stake to Imperial in 2008, retaining 10% of its shares; he is now again the sole owner of the business.
Multinaut is an operator of inland waterways shipping services on the Rhine-Main-Danube system, with a fleet of 25 vessels ranging from 750 to 2900 tonnes capacity, and bases in Vienna and Regensburg. It also offers project logistics services, as well as pre-carriage, on-carriage and handling.
The sale of Imperial's majority stake in Multinaut follows its recent agreement to sell its Imperial-branded European inland waterways shipping business to HGK.
Says Hakan Bicil, CEO at Imperial Logistics International: "As previously advised to customers, staff and investors, inland waterways shipping does not fit into Imperial's future development strategy, which is focused on growing our existing logistics activities in automotive, healthcare, consumer, chemicals and industrial – as well as expanding our international freight management footprint, and leveraging our unparalleled presence in African markets."We are therefore delighted to place the control of Multinaut back in the hands of the person who knows the business best, and who is therefore best placed to maximise its future potential."
Adds Jedlicka: "Multinaut has always provided excellent service to its valued customers and the team and myself are committed to continuing the long term partnerships in the new setup too."