Klaus-Michael Kuehne, the entrepreneur by logistics giant Kuehne + Nagel, has upped his stake in Hamburg containerline Hapag-Lloyd. Kuehne took advantage of tourism group TUI selling its last shares this week to raise his own holding in the carrier from 14.1% to 17.15%.
“The ongoing shipping industry consolidation offers Hapag-Lloyd new growth perspectives and strengthens its positions among the most important shipping companies across the world,” Kuehne Holding executive chairman Karl Gernandt said.
Kuehne started investing in Hapag-Lloyd nine years ago as Hamburg rallied to fend off a bid by Singapore’s Neptune Orient Lines.
