Hapag Merger Approved
The European commission has given the go ahead for Hapag Lloyd to complete the ‘acquisition of/merger with’ UASC (United Arab Shipping Lines).
With a combined capacity of almost 1.5 million TEU, the merger will make the new company the world’s fifth-largest shipping line.
Approval is conditional on UASC withdrawing from the trade routes between Northern Europe and North America, where the new entity would have faced insufficient competitive constraint.
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