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EU: World’s 4th largest shipping firm emerges from merger

 |  September 11, 2014

The European Commission has given conditional approval for a merger that will create the world’s fourth-largest shipping company, according to reports.

Germany’s Hapag-Lloyd Chile’s Compania Sud Americana de Vapores are planning to combine to operate about 200 vessels.

While the Commission will allow the merger to proceed, the watchdog said that Chile’s CSAV must exit two consortia on routes between Northern Europe and the Caribbean and South America’s west coast, reports say. The concessions were imposed to prevent CSAV from obtaining a dominant position in several markets.

Under terms of the deal, CSAV will own 30 percent of the new company.

Full content: Brandon Sun

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