Maersk Line officially acquires Hamburg Sud


Maersk announced that the sale and purchase agreement for Hamburg Süd was approved by the boards of Maersk Line and the Oetker Group. It is estimated at EUR 3.7 billion on a cash and debt-free basis.

On 1 December 2016, Maersk Line announced its intention to acquire Hamburg Süd, and on 14 March 2017, the signing of a sale and purchase agreement with the Oetker Group, owner of Hamburg Süd. Maersk Line and Hamburg Süd will own 743 container vessels, with a total container capacity of around 3.9 million TEU (3.3 million TEU) and an 18.7% (16.0%) global capacity share. The two companies will realise operational synergies of USD 350-400 million annually following completion of the transaction.

The process of obtaining regulatory approvals is on schedule. Maersk Line expects to close the transaction by the end of 2017. Until then, Hamburg Süd and Maersk Line will continue business as usual as separate and independent companies.

(Safety4Sea)