Marine Link
Tuesday, September 25, 2018

CMA CGM Made Merger Approach to Hapag Lloyd

Maritime Activity Reports, Inc.

July 9, 2018

(Photo: Hapag-Lloyd)

(Photo: Hapag-Lloyd)

The world's no. 3 container shipping line CMA CGM of France has made an exploratory approach to German rival Hapag-Lloyd over a possible merger as players in the sector hunt for tie-ups to beat depressed conditions, finance sources say.

Three finance sources with knowledge of the matter, who declined to be named due to market sensitivity, said CMA CGM had initiated discussions in recent months with Hapag-Lloyd, which is ranked fifth globally, to look into some form of share merger of the two groups.

"The idea which has been proposed... would be a non-cash merger," one source said.

Key Hapag shareholders had rebuffed the proposition, which would narrow the gap to market leader Maersk Line, the sources said.


(Additional reporting by Vera Eckert and Gus Trompiz; Editing by Adrian Croft)

Maritime Reporter Magazine Cover Sep 2018 - Maritime Port & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News