Maersk Line and Oetker Group signed a sale agreement for container line Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (Hamburg Sud). This is another spet ahead for the acquisition of the German container line by the Danish shipping giant. The company was first reported on the deal in December last year and its completion is planned before the end of this year, but being subject to the approval of regulators, including China, Korea, Australia, Brazil, the United States and the EU. The acquisition deal is expected to fortify the market presence of the Danish shipping conglomerate Maersk Line, particularly in Latin America.
“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 authorised by the respective Supervisory Boards and Shareholder Assemblies between end of April / mid May”, says the official statement of Oetker Group. “Subject to the approval by the competent regulatory bodies the Closing may take place at the end of this year”, adds the statement.
Hamburg Sud is seventh in the world’s container carriers ranking and is the leader in the north-south transportation segment. As a result of the merger, the combined fleet of Maersk Line and Hamburg Sud will comprise 741 vessels with a combined capacity of 3.8 million TEU, compared to 3.1 million TEU from Maersk Line today. The market share of Maersk Line will increase to 18.6% (compared to 15.7% nowadays).