Three More Approvals Needed for Hamburg Süd Acquisition Closure

Maersk Line has received clearance for its acquisition of German liner company Hamburg Süd in 18 jurisdictions, with three more approvals remaining to be secured, Søren Skou, CEO of Maersk Group said.

Describing the acquisition as “well-timed”, Skou said that in the best case scenario the remaining approvals would be obtained by the end of this month.

As informed, the company is going through motions with the relevant authorities from the remaining three geographies on clearing the deal.

The liner major confirmed its previous expectations on launching the integration of Hamburg Süd in the fourth quarter of 2017.

To remind, South Africa’s and Brazil‘s regulatory authorities gave their green lights to Maersk Line’s proposed acquisition of Hamburg Süd in October and September respectively.

Danish container shipping company said it would acquire Hamburg Süd for USD 4 billion on a cash and debt-free basis, which it plans to fully finance through an already secured syndicated loan facility.

Once the acquisition is completed, Maersk Line and Hamburg Süd will have a total container capacity of around 3.9 million TEU (3.3 million TEU) and an 18.7% (16%) global capacity share. The combined fleet will consist of 743 container vessels.

Estimated cost synergies are expected to range between USD 350-400 million by 2019 as earlier announced.

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 >