This falls below the 5% maximum set at shareholders meeting on 21 March. CSAV reported that the payment to the 2.7% of shareholders who exercised the appraisal right would be on May 2nd.
The binding agreement signed by CSAV and Hapag-Lloyd on 16 April is now subject to the approval of the Senate of Hamburg, which is expected before the end of the month.
In parallel, both companies must begin a consulting process of regulatory approvals. “This is another step on the road to materialise this transaction, which we are confident will have huge benefits for our company and our investors,” said CSAV ceo Oscar Hasbun.
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