Friday, September 18, 2009

Hapag-Lloyd Expecting Federal Monies

From Bloomberg

Sept. 18 (Bloomberg) -- German state aid for Hapag-Lloyd AG, in which tour operator TUI AG holds the biggest stake, will probably be approved by the federal government today, securing the shipping line’s future financing, a Hamburg lawmaker said.

“The city government has told us that the federal government will approve the aid after we complied with all the conditions it imposed,” Barbara Ahrons, the economy spokeswoman for the ruling CDU group in the Hamburg parliament, said in an interview today. “I’m confident,” she added.

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