Thursday, August 13, 2009

Hapag-Lloyd to apply for German Govt help

From The Journal of Commerce

Company to file for German state loan guarantees on Thursday

As Hapag-Lloyd reported a second-quarter loss, the troubled German container line’s owners reportedly reached agreement on a financing package for it.

The agreement is necessary to file an application for $1.7 billion in German state loan guarantees, a person familiar with the matter told Reuters on Thursday. The company plans to file the application before the end of the day.

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