UASC and Hapag-Lloyd’s merger progresses

The merger between UASC and Hapag-Lloyd has become more certain after UASC’s shareholding states and Hapag Lloyd’s board both backed the merger.

On June 28, Hapag-Lloyd’s approved the deal and the next day UASC’s six shareholding states voted unanimously to approve the proposed merger.

The deal gives a relative valuation of the two businesses at 72% for Hapag-Lloyd and 28% for UASC.