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At the end of May,Hapag-Lloyd will confirm to complete the merger of UASC's!

  • Author:Orient Honest
  • Source:www.china-disposable.com
  • Release on :2017-05-19
Recently, Hapag-Lloyd's spokesman said the merger of Hapag-Lloyd and UASC is in full swing in progress and will be completed before the end of May.

Earlier media reported that the two sides have signed a formal agreement, the final official confirmation will be announced before the May 29 annual general meeting of Hapag-Lloyd, a spokesman for Hapag-Lloyd and the statement seems to have confirmed the report.

The initial merger agreement between the two sides signed in July last year, the combined company will operate 237 container ships, capacity reached 1.6 million TEU. Annual processing volume is expected to reach 10 million TEU, is expected to annual turnover of 12 billion US dollars.

Under the terms of the agreement, UASC's largest shareholder Qatar Holding LLC and The Public Investment Fund of the Kingdom of Saudi Arabia will also become shareholders of the new company, holding 14% and 10% of the new company's shares.

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