News Content
TUI stake in Hapag-Lloyd to drop by 22pc to 13.9pc after CSAV tie-up
GERMAN travel giant TUI's stake in container shipping company Hapag-Lloyd will shrink to 13.9 per cent with the merger with Chilean carrier Compania Sud Americana de Vapores (CSAV), Reuters reports.
The merger, which still must win regulatory approval, between CSAV and Hapag-Lloyd would create the world's fourth biggest container shipping company, after Maersk, MSC and CMA CGM.
TUI owns 22 per cent in Hapag-Lloyd, which will fall to 15 per cent at point of merger and then to 13.9 per cent because TUI will not join the planned capital increase.
TUI, which has long sought to shed its shipping interests, will also get priority placement rights for its remaining stake as part of Hapag-Lloyd's planned stock market flotation in 2015.
The merger, which still must win regulatory approval, between CSAV and Hapag-Lloyd would create the world's fourth biggest container shipping company, after Maersk, MSC and CMA CGM.
TUI owns 22 per cent in Hapag-Lloyd, which will fall to 15 per cent at point of merger and then to 13.9 per cent because TUI will not join the planned capital increase.
TUI, which has long sought to shed its shipping interests, will also get priority placement rights for its remaining stake as part of Hapag-Lloyd's planned stock market flotation in 2015.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
