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Hapag-Lloyd cancels agm ahead of possible UASC merger

Hapag-Lloyd has cancelled its annual general meeting (agm) on 1 June ahead of a possible merger with United Arab Shipping Co (UASC).

Marcus Hand, Editor

May 24, 2016

1 Min Read
Kalyakan - stock.adobe.com

The German container line said it was postponing its 1 June agm till August at the latest pending its possible “business combination” with UASC. Shareholders of the Middle East base line will vote on the merger on 2 June at an extraordinary general meeting”

“The previously publicised talks between Hapag-Lloyd AG (HL) and United Arab Shipping Company SAG (UASC) regarding a potential combination of their container shipping activities would in the case of a successful finalisation of such talks require potentially amendments to the agenda,” Hapag-Lloyd said.

The German company said previously the proposed merger would be based on a valuation of the two businesses at 72% (Hapag-Lloyd) and 28% (UASC).

About the Author

Marcus Hand

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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