Hapag-Lloyd and UASC in merger talks
Hapag-Lloyd and United Arab Shipping Company (UASC) are currently holding merger talks, the German shipping line has confirmed.
The carriers are “discussing forms of cooperation including a potential combination of their mutual container shipping operations” according to a statement from the Hamburg-based firm.
“In case of a business combination, the parties are basing their discussions on a relative valuation of the two businesses at 72% (HL) and 28% (UASC), subject to a mutually satisfactory completion of the negotiations and the mutual due diligence exercise,” it added.
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