Hapag-Lloyd will now carry out the capital increase that was agreed upon as part of its merger with United Arab Shipping Company (UASC) in an effort to reduce debt.
The gross proceeds are expected to amount to approx. €352m (US$414m) and will be primarily used for the repayment of debt.
The capital increase is backstopped by the primary shareholders CSAV Germany, Kuehne Maritime, Qatar Holding Germany and Saudi Arabia’s Public Investment Fund for a total of €352m (US$414m).
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