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Sunday, October 23, 2016

Hamburg Süd to Acquire CCNI Liner Service

July 25, 2014

CCNI Antillanca (Photo: CCNI)

CCNI Antillanca (Photo: CCNI)

Compañía Chilena de Navegación Interoceánica S.A. (CCNI) with headquarters in Valparaiso, Chile, and Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (HSDG) with headquarters in Hamburg, Germany, announce that they have signed a preliminary agreement whereby HSDG will acquire the container liner activities of CCNI including the related general agency functions subject to due diligence, execution of a sale and purchase agreement and approval by the competent authorities.

According to the involved parties, the acquisition is scheduled to be executed before December 31, 2014.

HSDG said it intends to strengthen its liner network to and from South America by integrating the CCNI liner services, a merge that it believes will help to improve service to the customers of both companies.

Following the transaction CCNI will continue its non-liner shipping activities including the car carrier and ship-owning business, the group said.

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