The parent company of Hapag-Lloyd, TUI, held a special meeting on Sunday to discuss the future of Hapag-Lloyd. NOL had withdrawn from the bidding, so the only offer left was from the group of Hamburg investors.
They accepted this offer, but with a twist that TUI will now be one-third owner in the new company.
I suspect TUI was anxious to get Hapag-Lloyd off their books, as the next few years will be rather dismal for the shipping industry. However, there could also be some good buying opportunities during the downturn, which this new consortium might want to take advantage of.
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