Herz buys GL

Hamburg-based businessman Günter Herz has bought over 90% of Germanischer Lloyd shares, acting as a white knight and foiling plans of Bureau Veritas to take it over.At a press conference on Friday GL executive board member Rainer Schöndube said the "Hamburg solution” would allow GL to continue its successful business model. He added: "This is definitely the best course of action for our maritime and industrial customers, because they will still be able to rely on our high standard of safety and quality in the years to come expressed his thanks for the significant support the company had received from both government and business. With the transfer of the shares, the independence of Germanischer Lloyd has been assured.” Executive board Member Hermann Klein said that Mr Herz’s rapid response would yield benefits for the customers, employees and shareholders alike. "Now we will be able to concentrate on our real work again: enhancing the safety, quality and profitability of shipping," he said.