Hapag-Lloyd's box tracker will 'close logistics blind spots'
With two-thirds of its 2.9m teu container fleet fitted with Orbcomm and Nexxiot tracking devices, ...
More ships, bigger volumes and higher freight rates: what more could a container line possibly hope for?
A rocketing share price, perhaps.
That’s how things look at Germany’s biggest container line, Hapag-Lloyd, which in early August reported confident half-year results – very possibly the best of the lot worldwide, ahead of CMA CGM’s interim update which is due soon.
And in the background, there appears to be a tussle for control going on, which may be driving that market-defying stock rally, with shares ...
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Comment on this article
Tobias Sittig
September 05, 2019 at 2:07 pmNot quite correct. Since there is a shareholder agreement in place, none of them has to make a takeover offer when reaching 30%.
Alessandro Pasetti
September 05, 2019 at 2:56 pmCould you please share the agreement you are referring to, Tobias. Thanks for your feedback.
Alessandro Pasetti
September 05, 2019 at 3:13 pmNothing in here, btw: https://www.hapag-lloyd.com/content/dam/website/downloads/ir/HLAG_Declaration_on_Corporate_Governance_CG-Report_20190315.pdf
Tobias Sittig
November 04, 2019 at 3:44 pmSorry, haven’t checked this comment for a while. You can find reference to the pooling agreement here for example
https://www.hapag-lloyd.com/en/press/releases/2014/12/hapag-lloyd-completes-capital-increase_37684.html
Not sure whether the agreement as such is public anywhere, though.
Alessandro Pasetti
November 05, 2019 at 7:47 amThanks, Tobias.
I saw a reference to that in other statements. However, based on the available information and without having seen the agreement, the fact that CSAV, HGV and Kühne Maritime have agreed to pool 51% of the shares “in order to discuss and make key decisions together in the future” doesn’t necessarily mean that “none of them has to make a takeover offer when reaching 30%”…. right? Also, are we arguing that this agreement overrides German law?
Finally, are we saying that acting in concert is here allowed by BaFin?
Many thanks for your reply.
Best,
AP