Report: EU Regulators to Clear Maersk’s Hamburg Süd Deal

The EU regulators will approve the acquisition deal between Danish shipping major Maersk Line and its German counterpart Hamburg Süd under a condition that the German carrier withdraws from certain trades, Reuters reports.

Details on the trades in question were not specified, however.

Maersk Line submitted commitments to the European Commission on March 20 aimed at removing potential competition related impediments to its acquisition of shares in Hamburg Süd.

Following the submission, the EU Commission said it would announce its decision on the merger by April 10.

The company, however, did not disclose what remedies were offered as those were “available only for the market participants addressed by the European Commission in its current remedies market investigation.”

Maersk Line said earlier that, subject to regulatory approval, it expects to close the transaction by the end of 2017.

The Danish container shipping company inked the sale and purchase agreement for the acquisition of the German carrier on March 14.

Commenting on the matter Maersk Line’s spokesperson Michael Storgaard said the company expects a decision early next week. The outcome of the decision was not commented.

Separately, Hamburg Süd has topped the SeaIntel Global Liner Performance Report for February 2017 in the schedule reliability category for the third month in a row. On the average for 2016, Hamburg Süd achieved second place among 20 container lines rated.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
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

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

Offshore Wind Europe 2019

#OWEU19 is a meeting place for governments, developers and suppliers to grow the confidence in wind power. Perfect to grow your business by securing new customers, meeting officials and industry heads.

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >