The merged company will have its headquarters in Hamburg
The merger between Hapag-Lloyd and United Arab Shipping Company took another step towards completion this morning with a business combination agreement (BCA) to create the world’s fifth-largest box shipping line.
The proposed deal now goes before competition authorities for clearance and, if given the green light, is expected to complete by the end of this year.
However, the announcement was accompanied by a profit warning for investors.
The agreement was signed by Hapag-Lloyd shareholders CSAV, Hamburg municipality HGV and Kuehne Maritime, and UASC shareholders Qatar ...
Comment on this article