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Hapag-Lloyd, CSAV Advance Merger Negotiations

January 22, 2014

Photo: Hapag-Lloyd

Photo: Hapag-Lloyd

Talks between German containership company Hapag-Lloyd and Chilean fellow shipping company Cia. Sud Americana de Vapores SA (CSAV) about combining the container liner shipping activities are entering the next phase, Hapag-Lloyd said in a press release today. Both companies have signed a nonbinding Memorandum of Understanding (MoU).

As the next step, the due diligence will take place, after which a binding contract could follow, Hapag-Lloyd said.

A merger between the two companies would potentially produce the world's fourth-largest container shipping company. Hapag-Lloyd currently operates approximately 150 vessels, while CSAV operates approximately 50.

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