EU gives green light for Hapag-Lloyd’s CSAV-transaction

Approvals in few other countries are still pending for the planned integration of the container shipping activities of CSAV into Hapag-Lloyd

Hapag-Lloyd’s top management welcomes the approval under European Union (EU) merger regulations for the planned integration of the container shipping activities of Compañia Sud Americana de Vapores (CSAV) into the liner shipping group. Hapag-Lloyd and CSAV had signed a binding business combination agreement in April. Its implementation is subject to the approval of regulatory authorities.

Following the European Commission’s merger approval, approvals in a few other countries are still pending. At the beginning of August, the Department of Justice of the United States had cleared the planned transaction.

The transaction will create the fourth largest container shipping company in the world, with some 200 vessels, an annual transport volume of 7.5 million TEU and a combined turnover of approximately EUR 9 billion.

www.hapag-lloyd.de/en/home.html

Quelle: LogEastics
Portal: www.logistik-express.com