On 1 December Dr August Oetker KG announced it exit from shipping after 80 years with its intention to sell Hamburg Sud to the Danish line subject to due diligence.
On 14 March the two companies signed a sale and purchase agreement that will requires review and authorization between supervisory boards and shareholders at end April/mid-May.
The acquisition by Maersk Line then requires approval from regulatory authorities with the merger aimed to be completed by year-end.
The transaction will reconfirm Maersk’s position as the world’s largest container line with an 18.6% market share.
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