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US authorities approve merger of CSAV and Hapag-Lloyd

The Department of Justice and the Federal Trade Commission of the United States have granted clearance to the merger of the container shipping business of Chilean Compañía Sud Americana de Vapores (CSAV) and Hamburg-based Hapag-Lloyd.

Michele Labrut, Americas Correspondent

August 6, 2014

1 Min Read
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This is part of the consultation process to regulatory authorities that both companies are carrying out in order to merge their container businesses.

The owners of Hapag-Lloyd are the City of Hamburg (36.9%), Kühne Maritime (28.2%), TUI (22%), Signal Iduna (5.3%), HSH Nordbank (2.9%), an investor pool led by M.M.Warburg & CO (2.9%) and HanseMerkur (1.8%).  Quiñenco, the Luksic family’s holding, became part of the ownership of CSAV in 2011 and, after a several capital increases, the group became the legal comptroller of the company, currently with 50.9% of the ownership.

CSAV and Hapag-Lloyd signed last April a binding agreement, whose materialisation is subject to the approval of regulatory authorities around the world.

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About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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