Hapag-Lloyd and the UASC sign agreement to merge
Hapag-Lloyd and the United Arab Shipping Company (UASC) have signed a Business Combination Agreement (BCA) to merge and assumed commitments related to the merger in a separate Shareholders Support Agreement (SSA).
The merger, which is subject to regulatory and contractual approvals, is expected to be completed by the end of 2016.
UASC’s majority shareholders, Qatar Holding LLC and The Public Investment Fund of the Kingdom of Saudi Arabia, will become new shareholders of Hapag-Lloyd holding a stake of 14% and 10% respectively.
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