Peter Deilmann Cruises Stays Afloat

Aurelius, a Munich-based investment firm, apparently has acquired a controlling interest in the German company that owns Peter Deilmann Cruises, according to German financial sources. Peter Deilmann ceased river cruise operations within the past year, but it still owns the 22,500-ton Deutschland, a luxury cruise ship. Earlier this year, the ship had an onboard fire with some voyages canceled.   

Founder Peter Deilmann died in 2003. His daughters Hedda and Gisa inherited the line and continue to operate it. When the Aurelius deal is completed, apparently they will give up management of the cruise company, according to a German newspaper. Aurelius tends to seek out controlling stakes in firms that it believes have potential for long-term development and investment.

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