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Tuesday, October 24, 2017

Hapag-Lloyd, UASC Merger Unaffected by Qatar Spat

June 9, 2017

File Image: Credit Hapag-Lloyd

File Image: Credit Hapag-Lloyd

Qatar's row with its powerful Gulf neighbours should not scupper the just-agreed merger of German shipping company Hapag-Lloyd with sector peer United Arab Shipping Company (UASC) that is owned by six Arab states of the Gulf region, a source close to Hapag-Lloyd said.
 
He said there were currently no signs that the diplomatic crisis would impact the deal that the states had made last month as one party, vis-a-vis Hapag-Lloyd, bilaterally.
 

The source, a senior manager close to the German firm's current owners, said there was no disagreement between the Arab shareholder parties.

 

Reporting by Jan Schwartz 

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