Maersk to Get Decision on Hamburg Süd Deal by March 27

Danish shipping giant Maersk Line is scheduled to receive the EU antitrust regulator’s decision on the company’s plan to purchase the Germany-based Hamburg Süd by March 27, according to Reuters.

The deal, reached at the beginning of December 2016 amid a consolidation period in the industry, was filed to the European Commission on February 20.

Reuters informed that the EU competition can extend the review by some two weeks or open a five-month investigation, adding that the Danish carrier might be asked to end its membership in some shipping alliances in order to receive the approval for the Hamburg Süd deal.

A.P. Møller – Mærsk A/S, the parent company of Maersk Line, earlier said that it expects to close the transaction by the end of 2017.

“With this acquisition, Maersk Line follows the strategy announced on September 22, 2016 to grow market share organically and through acquisitions. Acquiring Hamburg Süd will create a unique opportunity for further development of Maersk Line’s business to the benefit of customers, employees as well as shareholders,” Maersk Line said in December.

Hamburg Süd, which operates 130 container vessels with a container capacity of 625,000 TEUs, is the world’s seventh largest container shipping line.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2018 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >