Public Investment Fund Of The Kingdom Of Saudi Arabia News

Hapag-Lloyd AG shareholders approved with the required majority all items on the agenda put to a vote at the Annual General Meeting in Hamburg. This included an agreement upon the use of the net profit (item 2) and thereby the payment of a dividend of EUR 0.57 per share. Shareholders also formally approved the actions of the sitting members of the Executive Board for the financial year 2017 (item 3) and also the actions of the sitting members of the Supervisory Board (item 4) for that period. “Our fast and successful merger with the United Arab Shipping Company has significantly strengthened our competitive position. We achieved good results for the last financial year and have made a solid start to the first quarter of 2018.

Hapag-Lloyd has successfully completed the capital increase with subscription rights agreed upon on 28 September 2017. By partially utilizing the authorized capital, the gross issue proceeds amount to approximately EUR 352 million (approx. USD 414 million). 96.5 percent of the existing shareholders exercised their subscription rights. A total of 11,717,353 new no-par value shares were placed at a subscription price of EUR 30.00 each. As a result the Company's share capital will be increased to EUR 175,760,293.00. The new shares will carry full dividend rights as of 1 January 2017. The registration of the capital increase with the commercial register of the local court (Amtsgericht) of Hamburg is expected to take place on 17 October 2017…

Hapag-Lloyd AG will now carry out the capital increase that was agreed upon as part of the merger of Hapag-Lloyd and UASC. The gross proceeds are expected to amount to approx. EUR 352 million (approx. USD 414 million). The official merger of the two companies occurred on 24 May 2017. At the Annual General Meeting on 29 May 2017, the shareholders approved new authorised share capital for a capital increase. The capital increase is backstopped by the primary shareholders CSAV Germany Container Holding GmbH, Kuehne Maritime GmbH, Qatar Holding Germany GmbH and The Public Investment Fund of the Kingdom of Saudi Arabia for a total of approx. EUR 352 million. They have committed to exercise their subscription rights and to acquire new shares that are not acquired by other shareholders.

Hapag-Lloyd and United Arab Shipping Company (UASC) merged yesterday (May 25, 2017). The merger between the two liner shipping companies was completed in Hamburg. With 230 vessels and a shared fleet capacity of approximately 1.6 million TEU, Hapag-Lloyd is the fifth-largest liner shipping company in the world. Hapag-Lloyd will remain a publicly traded company registered in Germany with its headquarters in Hamburg. “This is an important strategic milestone and a big step forward for Hapag-Lloyd,” said Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd. “We now not only have a very strong market position in Latin America and the Atlantic, but also in the Middle East, where we will become one of the leading carriers.

Hapag-Lloyd AG (Hapag-Lloyd) and United Arab Shipping Company S.A.G. (UASC) have signed a Business Combination Agreement (BCA) to merge both companies, subject to the necessary regulatory and contractual approvals. Besides the Business Combination Agreement (BCA) between the two companies, the controlling shareholders, namely CSAV Germany Container Holding GmbH, HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH and Kühne Maritime GmbH on the side of Hapag-Lloyd, and Qatar Holding LLC on behalf of the State of Qatar and The Public Investment Fund of the Kingdom of Saudi Arabia on the side of UASC, have assumed certain commitments with regard to the merger and the future equity funding of the company in a separate agreement…

Hapag-Lloyd and UASC have signed a Business Combination Agreement. The Combined company will rank among the world´s five largest liner shipping companies and will operate one of the most modern fleets in the industry / Company will operate 237 vessels with total transport capacity of around 1,6 million TEU / Qatar Holding LLC and The Public Investment Fund of the Kingdom of Saudi Arabia to become new key shareholders of Hapag-Lloyd. Hapag-Lloyd AG (Hapag-Lloyd) and United Arab Shipping Company S.A.G. (UASC) have signed a Business Combination Agreement (BCA) to merge both companies, subject to the necessary regulatory and contractual approvals.

Saudi Global Ports (SGP), a joint-venture company formed between the Public Investment Fund of the Kingdom of Saudi Arabia and PSA International (PSA) has started its commercial operations this month, PSA said. This began at the second container terminal in the King Abdul Aziz Port in Dammam, a key gateway port on the Arabian Gulf. On April 23, the company handled the first commercial vessel, M/V NIARA, owned by Orient Express Line. For this, 1,011 twenty-foot equivalent units (TEUs) were handled on this 2,000-TEU capacity vessel. Phase one of the facility has a 700m long quay with a water depth of 16m alongside and equipped with six 23-wide quayside gantry cranes.