Completed the plan of fusion of the activities in the segment of the container of Hapag-Lloyd and CSAV



As a result of the green light to their project granted from all the competent authorities world-wise, today the Hapag-Lloyd German and the Chilean South American Compañía de Vapores (CSAV) have announced the completion of the plan of fusion of the respective activities in the field of the containerized marine transport that will be put into effect with the inclusion of the services of line and the operations correlated carried out from the South American company in those of the European shipowning group.

With such consolidation the Hapag-Lloyd new becomes the fourth company of navigation of line of the world, behind of Maersk Line, Mediterranean Shipping Company (MSC) and CMA CGM, with a fleet of about 200 ships portacontenitori for a total cargo ability pairs to about a million teu, a volume transported annual pairs to about 7,5 million teu and a turnover of about 12 billion dollars.

According to the forecasts, the fusion of these operating activities, that it will be capacity to term within the end of according to trimester of 2015, will allow annual savings in order at least 300 million dollars thanks to the optimization of the net of services, to the improvement of the productivity and the cost reduction. The initiative previews also the creation of a fourth regional center of the new company to Valparaiso.

Besides to integrate these activities, the fusion plan includes also for the collection of capitals for 370 million euros within next 31 December to the aim to strengthen the Hapag-Lloyd, with an investment by the CSAV pairs to 259 million euros and of other 111 million euro from the Maritime Kühne German. As a result of such breaking in of capital the structure owner of Hapag-Lloyd will change with the CSAV that will become the greater shareholder of the German company of which it will stop 34% of the vital continuation with 23,2%da the HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH, the society of the city administration of Amburgo, with 20.8% from the controlled Kühne Maritime by Klaus Michael Kühne, with 13.9% from tourist group German TUI and therefore from the insurance, bank groups and financial Germans Signal Iduna, HSH Nordbank, MILIMETER Warburg and Hanse Merkur respective with 3.3%, 1.8%, 1.8% and 1.1% of the capital. Such social order will be subject to the decisions of CSAV, Maritime HGV and Kühne that have agreed to make available 51% of the actions of the Hapag-Lloyd in a consortium of which CSAV it will have a quota 50% while Maritime HGV and Kühne will stop each 25%.

"This - it has emphasized the managing director of Hapag-Lloyd, Rolf Habben Jansen - is a great day for both the companies. With the force of Hapag-Lloyd in the traffics with Asia and the North Atlantic, arranged with the consolidated presence of CSAV in Latin America, we become the company leader of transport in this E region are therefore in a position to offering to our total customers a net still more interesting and a range wider than produced. Our ability to compete remarkablly will be improved reducing the difference from the "top three" of our field. Now - it has added - our immediate priorities, while we plan the imminent fusion, are to continue to offer to an excellent service to all our customers and to honor all the engagements assumed from both the societies. Not there will be great changes in the way to work until the transition towards the systems of Hapag-Lloyd that will happen at the end of first trimester 2015".

"We are very proud - the managing director of the CSAV, Oscar Hasb has asserted ún - of the fact that ours two companies by now consolidated now become one of the more important actors in the field of the total marine transport of the container and that this company has a solid base in Latin America, included our domestic market of Chile. We integrate ourselves perfectly thanks to our complementary net, to our structure of the customers and to our excellent professionalities and reputation".