One year after Maersk Line announced it had agreed a deal to acquire Hamburg Süd, the acquisition of the German line has been completed.
Maersk said it has obtained the necessary regulatory approval in 23 jurisdictions, the final approval coming from the Korea Fair Trade Commission earlier this week.
The enlarged Maersk Line fleet now numbers 773 vessels, both owned and chartered, with the addition of Hamburg Süd’s 105 ships. Total container capacity has increased to 4.15m teu.
Søren Skou, CEO of A.P. Moller – Maersk, commented: “With the final approval of the acquisition we have reached an important milestone in our strategy to become an integrated transport and logistics company delivering sustainable growth. These are truly exciting times and we are looking forward to taking the first steps forward as one company.
“Hamburg Süd is an outstanding brand with high quality products. By combining our two businesses we will reinforce the global positions of both companies and enhance our service offers towards customers.”
The acquisition is costing Maersk €3.7bn ($4.4bn) and it says the combination will realise operational synergies of around $350m-400m annually from 2019.
— Søren Toft (@ToftSoren) December 1, 2017
— Mikkel Elbek Linnet (@MikkelLinnet) November 30, 2017