COPENHAGEN: Denmark’s Maersk Line’s acquisition of German liner Hamburg Süd is making headway as the two parties signed a Sale and Purchase Agreement.
The sale of Hamburg Süd’s ownership and main business assets, including vessels and containers, to Copenhagen-based Maersk Line is still pending until it’s been checked for legitimacy on antitrust grounds by EU antitrust regulators at the end of the month.
It would give the 2M network, which includes Mediterranean Shipping Company (MSC), additional vessels to combat new rivals Ocean Alliance and THE Alliance, which launch on April 1, 2017.
“We are pleased to inform that, today, the parties have signed a Sale and Purchase Agreement which in the coming weeks will be reviewed and authorized by the respective Supervisory Boards and Shareholder Assemblies between end of April / mid May.
Subject to the approval by the competent regulatory bodies the Closing may take place at the end of this year.” Dr. August Oetker KG, owner of Hamburg Süd said.
