By Mike Wackett (The Loadstar) - Maersk is to reflag its recently acquired Hamburg Süd containerships away from the German registry, despite its promise of a “light-touch” acquisition. Maersk Line confirmed last week its intention to reflag a number of Hamburg Süd vessels, including 10,600 teu flagships Cap San Juan, Cap San Lazaro and Cap San Vincent, to either Danish … [Read more...]
Maersk Line Completes Hamburg Süd Acquisition
Danish shipping giant Maersk says it has completed its acquisition of German rival Hamburg Süd in a deal valued at approximately $4 billion. The close of the deal comes exactly one year after Maersk Line announced its intention to acquire the smaller shipping line from Oetker Group. The acquisition triggered a regulatory approval process spanning 23 jurisdictions, which … [Read more...]
Maersk Reveals Changes to Hamburg Süd Executive Board Post Takeover
By Mike Wackett (The Loadstar) - Maersk Line is wasting no time in putting its blue stamp on the executive board of soon-to-be acquired Hamburg Süd, but says it “intends to maintain the business model” of the north-south niche carrier. After the completion of the transaction – still subject to some regulatory approvals but anticipated for Q4 – Maersk said not only did it … [Read more...]
Maersk Line to Pay $4 Billion for Hamburg Süd
COPENHAGEN, April 28 (Reuters) - The world's biggest container shipping company Maersk Line will pay 3.7 billion euros ($4.02 billion) for its acquisition of smaller German rival Hamburg Sud, it said on Friday. Combined, the two companies will be able to realise annual operational savings of about $350 million to $400 million, Maersk Line said in a statement fleshing out … [Read more...]
EU Regulators Said to Clear Maersk, Hamburg Sud Tie-Up
By Foo Yun Chee BRUSSELS, April 7 (Reuters) - World No. 1 shipping company Maersk Line is set to win EU antitrust approval for its acquisition of Hamburg Sud after agreeing to pull the German company out from some trade routes, a person familiar with the matter said on Friday. Maersk, part of A.P. Moller-Maersk, announced the bid last December, part of a wave of mergers … [Read more...]