DGAP-News

Hapag-Lloyd and CSAV agree to merge and create the fourth largest container shipping company - Seite 2

Hapag-Lloyd in this growth market and adds a strong position in the
North-South traffic to the company's global network and to its established
strength in East-West traffics", said Oscar Hasbún.

Order books are also complementary: While, at the end of April, Hapag-Lloyd
will put into service the last of ten 13,200 TEU vessels ordered for the
Far East trade, CSAV still has seven vessels, each of 9,300 TEU, scheduled
for delivery in 2014 and 2015. These container ships are specially designed
for the South American trade. "This means that we will have a young and
cost-efficient fleet. The use of optimum tonnage in the trades is one of
the key prerequisites for successful operations in the face of
international competition," said Oscar Hasbún.

Both companies also fit in other regards: CSAV, founded in 1872, and
Hapag-Lloyd, founded in 1847, share a similar blend of long tradition and
entrepreneurial vision for the future.

"By integrating CSAV's container business, Hapag-Lloyd is able to build on
its strengths and is therefore in an excellent position for future growth,"
said Michael Behrendt, adding: "This combination will further strengthen
our service portfolio and enable us to deliver an even better global
service to our clients."

The relevant corporate bodies of both companies have already approved the
merger. The closing of the transaction is subject to the approval of
competition authorities. Another condition is that not more than 5% of
total CSAV's minority shareholders exercise their appraisal rights till the
20th April. Until then, dissident CSAV shareholders have the right to
withdraw. The company defined that this appraisal right should be exercised
by holders of less than 5% of the company's total shares in order for the
merger with Hapag-Lloyd to be completed.


End of Corporate News

---------------------------------------------------------------------

16.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------


263643 16.04.2014