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Chile/Germany: Shareholders offer blessing for shipping alliance

 |  April 22, 2014

Shareholders have reportedly cleared the way for Chile-based shipping company Vapores to merge with Germany’s Hapag-Lloyd in a deal that would create the world’s fourth-largest container shipping company.

Vapores announced Monday that the majority of its shareholders approved of the transaction, allowing the firms to take a significant step towards completing the deal.

The transaction remains subject to approval by competition regulators as well as the City Of Hamburg’s Senate, according to reports.

Full Content: Reuters

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