Hapag-Lloyd and UASC confirm merger talks

Container lines Hapag-Lloyd and United Arab Shipping Company (UASC) have confirmed they are “discussing forms of cooperation”, which could potentially include a merger.

The two say their merger discussions are based on a relative valuation of the two businesses at 72% for Hapag-Lloyd and 28% for UASC, “subject to a mutually satisfactory completion of the negotiations and the mutual due diligence exercise”, a statement from the German carrier said today.

No binding agreement has yet been signed, and Hapag-Lloyd stressed there can be no guarantee the discussions will result in any definitive deal.

Germany’s Manager Magazin this morning reported the discussions are at an “advanced” stage.

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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