Independent journal on economy and transport policy
04:50 GMT+1
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The Middle Eastern States shareholders of the UASC have approved of the project of fusion with the Hapag-Lloyd
the two companies will continue to operate in the within of the shipowning alliances to which currently they join until March 2017
June 30, 2016
Yesterday the representatives of the six Middle Eastern States that are shareholders of the shipowning society United Arab Shipping Company (UASC), reunited in extraordinary shareholders' meeting near the headquarters of the company to Dubay, have deliberated unanimously the approval of the project of fusion with the Hapag-Lloyd German, green light that was attended for being able to give course to binding agreements between the parts, understandings - she is specified - that they could be sign formally only after the completion of a series administrative legal proceedingss and ( on 29 June 2016).
The six States shareholders of the UASC, that is Saudi Arabia, Bahrain, the United Arab Emirates, Iraq, Kuwait and Qatar, have approved of also the relative percentages of the asset values object of the fusion, that they are pairs to 72% relatively to Hapag-Lloyd and 28% for the UASC ( on 21 April 2016).
UASC has specified that only after the signature of the binding agreements the two parts will start the procedures in order to obtain the approval of the project by the competent authorities, obtained which will be activated integration of some activities of the two companies that however - it is emphasized - will continue to operate in the within of the shipowning alliances to which currently they join until the end of freedom of expression of 2017.
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Yesterday the representatives of the six Middle Eastern States that are shareholders of the shipowning society United Arab Shipping Company (UASC), reunited in extraordinary shareholders' meeting near the headquarters of the company to Dubay, have deliberated unanimously the approval of the project of fusion with the Hapag-Lloyd German, green light that was attended for being able to give course to binding agreements between the parts, understandings - she is specified - that they could be sign formally only after the completion of a series administrative legal proceedingss and 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
