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...]
EU Regulators to Rule on Maersk, Hamburg Sud Deal Next Month
BRUSSELS, Feb 21 (Reuters) - EU antitrust regulators will decide by March 27 whether to clear world No. 1 shipping company Maersk Line's bid for German rival Hamburg Sud, its first major deal for more than a decade. The deal, one of several in a sector seeking consolidation to offset low freight rates and oversupply, was filed to the European Commission on Feb. 20, according … [Read more...]
Maersk Line and Hamburg Süd Enter Slot Purchase Agreement
Maersk Line and Hamburg Süd have announced slot purchase agreement for Hamburg Süd’s volumes on the East-West trades to be shipped on vessels in the 2M network, the shipping alliance between Maersk Line and Mediterranean Shipping Line. The slot purchase agreement is unrelated to Maersk's planned acquisition of Hamburg Süd, which was announced last December. In a joint … [Read more...]
Hamburg Süd Deal to Help Compensate for Maersk Energy Spin-off
By Jacob Gronholt-Pedersen COPENHAGEN, Dec 13 (Reuters) - The acquisition of German shipping company Hamburg Süd will replace some 60 percent of revenue lost when A.P. Moller-Maersk spins off its energy division, the head of the Danish company said on Tuesday. Maersk announced a major restructuring in September in which the family-owned group plans to focus on transport … [Read more...]
Maersk Buys German Rival Hamburg Süd
By Jacob Gronholt-Pedersen COPENHAGEN, Dec 1 (Reuters) - Maersk Line, the world's biggest shipping company, is to buy smaller rival Hamburg Süd, joining a wave of M&A in the industry just over two months after the Danish company revealed plans to bolster its transport operations. The deal, announced by parent A.P. Moller-Maersk on Thursday, is the group's first full … [Read more...]