Hapag-Lloyd and Hamburg Süd: merger discontinued

Suspension of project work relating to a merger of the container shipping companies Hapag-Lloyd and Hamburg Süd
 
Negotiations about the merger of the German shipping groups Hapag-Lloyd and Hamburg Süd into one of the most powerful providers in the global container shipping industry, which have been going on since last December, have been suspended temporarily. The project work relating to a merger of the two enterprises have been suspended by request of the Oetker group, the shareholders of Hapag-Lloyd AG (Hamburgische Seefahrtsbeteiligung „Albert Balin“ GmbH & Co. KG und TUI-Hapag Beteiligungs GmbH) announced in a press release.
 
According to Hapag-Lloyd the major reason for this decision is the failure of both owner groups to find an agreement on the transaction terms of the partnership. A merger would sustainably strengthen the positions of both Hamburg-based companies in the global liner shipping industry.
 
However, the owners of Hamburg Süd positively favour a flotation of the merged new company if certain conditions are met, they point out in a press release. The advisory board and executive board of Hamburg Süd remain firmly of the view that the merger of Hapag-Lloyd and Hamburg Süd would be of enormous benefit for both companies as well as for Hamburg as a shipping location.

Quelle: LogEastics

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