Marine Link
Tuesday, November 20, 2018

Hapag-Lloyd, CSAV Merger Approved in Brazil

Maritime Activity Reports, Inc.

November 4, 2014

Photo: Hapag-Lloyd

Photo: Hapag-Lloyd

Hapag-Lloyd has received unconditional clearance under Brazilian merger regulations for the planned integration of the container shipping activities of Compañía Sud Americana de Vapores (CSAV) into Hapag-Lloyd.

Hapag-Lloyd and CSAV signed a binding business combination agreement in April. Its implementation is subject to the approval of regulatory authorities. Among others, the Department of Justice of the United States, the European Union (EU) and Chile have already cleared the planned transaction. Approvals of a few jurisdictions are still pending.

The transaction will make Hapag-Lloyd the fourth largest container shipping company in the world, with some 200 vessels, an annual transport volume of 7.5 million TEU and a combined turnover of approx. 9 billion Euro, the company said.

Maritime Reporter Magazine Cover Nov 2018 - Workboat Edition

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