DGAP-News

Hapag-Lloyd welcomes EU approval for transaction with CSAV

DGAP-News: HAPAG - LLOYD AG / Key word(s): Mergers & Acquisitions
Hapag-Lloyd welcomes EU approval for transaction with CSAV

11.09.2014 / 18:31

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Hamburg, 11 September 2014

Hapag-Lloyd welcomes EU approval for transaction with CSAV

Approvals in few other jurisdictions are still pending / Transaction will
create fourth largest container shipping company in the world

Hapag-Lloyd welcomes the approval under European Union (EU) merger
regulations for the planned integration of the container shipping
activities of Compañia Sud Americana de Vapores (CSAV) into Hapag-Lloyd.

Hapag-Lloyd and CSAV signed a binding business combination agreement in
April. Its implementation is subject to the approval of regulatory
authorities. The European Commission's merger approval is the result of a
consultation process which both companies are carrying out with regulatory
authorities around the world. Approvals in a few other jurisdictions are
still pending. At the beginning of August, the Department of Justice of the
United States had cleared the planned transaction.

The transaction will create the fourth largest container shipping company
in the world, with some 200 vessels, an annual transport volume of 7.5
million TEU and a combined turnover of approx. 9 billion Euro.



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286619 11.09.2014