CSAV outlines Hapag-Lloyd pre-merger capital increase plansCSAV outlines Hapag-Lloyd pre-merger capital increase plans

The first $200m drive will finance seven 9,300 teu ships under construction at Samsung Heavy Industries as well as fulfilling other terms of the proposed merger.

CSAV's controlling shareholder Quiñenco has committed to take up any leftover shares in the offering should it fall short.

The second increase will only go ahead in the event of a merger with Hapag Lloyd, in which case CSAV will look to raise $400m to buy up EUR259m of Hapag-Lloyd's EUR370m capital increase, as well as covering expenses.

CSAV's coe, Oscar Hasbún, claimed: "In practical terms, CSAV shares could become an alternative vehicle for any investor worldwide who might decide to invest in Hapag Lloyd prior to its IPO, given the value generation that a merger of this kind may create".