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Berenberg banker cleared in Hapag-Lloyd sell-off probe

An investigation into a senior Berenberg Bank executive in connection with TUI’s divestment from box carrier Hapag-Lloyd has been discontinued, according to a statement from the bank

The probe into the role of Berenberg managing partner Hendrik Riehmer was started in March last year, but has now been dropped

AN INVESTIGATION in connection with TUI’s divestment from box carrier Hapag-Lloyd has been discontinued, according to a statement from the bank.

The German tour operator sold 8.5m shares in Germany’s biggest container company in 2017. Berenberg acted as sole global co-ordinator and bookrunner.

The probe into the role of Berenberg managing partner Hendrik Riehmer was initiated in March last year, but has now been dropped on the grounds that the accusations were unfounded. 

“I am glad that the responsible investigating authority has now, after about a year of investigative work, come to the conclusion that the accusations were unfounded and that the reputation of myself and our bank is therefore not further damaged by this issue,” said Mr Riehmer.

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