shipping company Hapag-Lloyd plans major merger
The Hamburg shipping company Hapag-Lloyd will merge with the Arabian competitor United Arab Shipping Company (UASC). The secret negotiations between the two sides are close to a conclusion. The reported manager magazin in its new edition (publication date: April 22). Hapag-Lloyd wanted to make available on request a comment.
Both companies expect the merger of more market power and therefore better prospects in the ongoing shipping crisis. Hapag-Lloyd is currently the sixth largest container shipping company in the world, UASC ranks tenth. Together, they could catch up to fourth.
UASC, headquartered in Dubai is predominantly Arab SWFs. The principal owner of Hapag-Lloyd, the Chilean Quiñenco Group, the logistics entrepreneur Klaus-Michael Kuehne and the city of Hamburg.
Negotiator of the Hamburg Senate should have already signaled their agreement, provided that the headquarters of the combined company is based in Hamburg. The Arab owner of UASC can expect a share of around one third of the merged company.