Tuesday, March 26, 2013

Hamburg Sud and Hapag-Lloyd merger talks halted

Press Release from Hamburg Sud

 

Suspension of project work relating to a merger of Hapag-Lloyd and Hamburg Süd

25-Mar-2013

Press Release

The shareholders of Hapag-Lloyd and Hamburg Süd have jointly arrived at the conclusion to discontinue talks temporarily.
Hamburg Süd does not wish to comment publicly on the subject matter of the points under discussion. It does, however, expressly point out that the owners of Hamburg Süd – unlike the impression conveyed in various press articles – positively favour a flotation of the merged new company if certain conditions are met.
The Advisory Board and Executive Board of Hamburg Süd remain firmly of the view that the merger of Hapag-Lloyd and Hamburg Süd would be of enormous benefit for both companies as well as for Hamburg as a shipping location.

Hum.  It would be interesting be to a "fly on the wall" during these discussions.


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