German container shipping line Hapag-Lloyd expects to reap a third of targeted annual synergies of $400 million from its planned merger with Arab rival UASC next year, and realise them fully from 2019, its CEO said on Friday.
Hapag-Lloyd AG (Hapag-Lloyd) and United Arab Shipping Company (UASC) have signed a business combination agreement (BCA) to merge both companies, subject to the necessary regulatory and contractual approvals.
Apart from the BCA, th
Hapag-Lloyd AG approved a plan to acquire all shares of United Arab Shipping Company, paving the way for the second merger in two years to bolster the position of Germany’s biggest container-shipping line in an industry plagued by excess c
Germany's Hapag-Lloyd has teamed up with five Asian container shipping firms to form a new international alliance, the latest such arrangement in the troubled industry.
Hapag-Lloyd said on Friday that the alliance is due to be
Hapag-Lloyd and Compania SudAmericana de Vapores will win conditional European Union approval for their merger that will create the world's fourth-largest container shipping company, sources said.
The tie-up is important for t
An Omani state-owned fund has told TUI AG in writing that it wants to buy a stake in container liner shipping firm Hapag-Lloyd from the German tourism group, a person familiar with the matter said.
There is no binding agreement yet, though
Omani state-owned Onyx Investments has taken a 15 percent stake in German container shipping company Hapag-Lloyd, an official at the parent company of Onyx said on Monday.
"Onyx Investments has bought a 15 percent