Hapag-Lloyd and CSAV consider closing of ranks
Discussions about possible business combination and other forms of association between Hapag-Lloyd and CSAV
Germany’s biggest liner shipping company Hapag-Lloyd and their Chilean competitor Compañia Sud Americana de Vapores (CSAV) are currently maintaining discussions about a possible combination of their business. The two groups are considering various forms of cooperation that would be of mutual interest. However, no binding agreement has been signed yet, Hapag-Lloyd states in a press release.
Stock-listed CSAV is one of the oldest shipping companies in the world. Total sales in 2013 amounted to around EUR 2.5 billion. Hapag-Lloyd has 7,000 employees at 300 locations, moving more than 5 million TEU annually worldwide. In the first half of the year 2013 the enterprise generated revenue of EUR 3.3 billion; adjusted EBITDA amounted to EUR 13.5 million.
www.hapag-lloyd.de/en www.csav.com
Quelle: LogEastics
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