Independent journal on economy and transport policy
18:20 GMT+1
This page has been automatically translated by Original news
Hapag-Lloyd and UASC send back two-month-old the final deadline of execution of the fusion agreement
the two companies have emphasized that "the transaction is not to risk"
March 17, 2017
The companies of navigation Hapag-Lloyd and United Arab Shipping Company (UASC) have announced today the dismissal two-month-old of the final deadline of execution of the which signed agreement of fusion last summer ( on 18 July 2016). Specifying that "the transaction is not to risk", the company of Amburgo and that of Dubay have announced to have moved such date from on May 31, 2017, fixed term in the Business Combination Agreement (BCA) undersigned to July, carrying it on May 31, 2017 and to have modified the BCA consequently.
The two companies have explained that "all the authorizations for the fusion and the approvals of the authorities let alone all the necessary bank authorizations by Hapag-Lloyd and practically all the bank authorizations by UASC are obtained and the parts of the fusion are managing the final documentation for the closing of the business combination. The last arrangements for the closing of the contract - they have specified Hapag-Lloyd and UASC - demand more time of the previewed one".
Moreover Hapag-Lloyd and UASC have specified that, "independently from the date of effective closing, THE Alliance (the operating agreement which signed with the Japanese companies "K" Linens, MOL and NYK and with the taiwanese Yang Ming that will become operating the next month, on May 13, 2016, ndr), it will begin the activity beginning from on April 1°, 2017, included all the ships as from program. The start of the consolidation of UASC in Hapag-Lloyd - they have concluded - will happen at the close of the agreement".
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
The companies of navigation Hapag-Lloyd and United Arab Shipping Company (UASC) have announced today the dismissal two-month-old of the final deadline of execution of the which signed agreement of fusion last summer 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
