Hamburg Süd Inks CCNI Takeover Deal

German carrier Hamburg Süd has signed a Sale and Purchase Agreement to acquire the container liner activities of Compañía Chilena de Navegación Interoceánica S.A. (CCNI).

The purchase deal includes the related general agency functions of Agunsa Agencias Universales S.A, (Agunsa), with headquarters in Valparaiso and Santiago de Chile.

The takeover of the CCNI / Agunsa business is, subject to approval by the competent antitrust authorities, scheduled to become effective at the end of March 2015, Hamburg Süd said.

“Merging the experienced workforces of CCNI and Hamburg Süd will help to create an even stronger organization that will provide a first class service to the customers of both companies,” the German shipping company commented.

Should the deal get approved, Hamburg Süd will operate the CCNI container liner business in the main trades between the West Coast of South America, Asia, Europe and North America respectively.

In addition, CCNI would discontinue their container liner services and will only be using the CCNI name for the car carrier activities which they plan to retain.

On the other hand, Agunsa would continue representing other shipping lines as agent and would also further develop its port and logistics services business in South America, as explained by Hamburg Süd.

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