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Hapag-Lloyd and UASC agree a merger

Container lines Hapag-Lloyd and United Arab Shipping Company (UASC) have agreed on the terms of a merger.

All shares would be transferred to the German carrier as part of the deal, which has been approved by Hapag-Lloyd’s supervisory board.

The merger is still subject to approval from Hapag-Lloyd’s anchor shareholders and from UASC shareholders, who will meet at an extraordinary general meeting in Dubai on Wednesday.

Merger discussions to date have been based on a relative valuation of the two businesses at 72% for Hapag-Lloyd and 28% for UASC.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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