Green light of the Board of Directors to the acquisition of Hamburg Süd by Maersk Line



Today the boards of directors of the Danish Maersk Line and the German Oetker Group have approved of the agreement for the cession to the Danish company of the activities of containerized marine transport of the German company Hamburg Süd, understanding that is announced at the end last year ( on 1° December 2016) and that in recent days it has obtained the green light of the EU commission and the American Department of the Justice.

The concentration, than second the forecasts will be capacity to term within the end of this year, will lead to the formation of one fleet of 743 portacontainer of the total ability pairs to about 3,9 million teu adding the current ability to about 3,3 million teu to the ships of the Maersk Line, that he is world leader of the market, and those pairs almost 600 thousand teu of the fleet of Hamburg Süd, that it is the tenth company of the field.

"Today - the managing director of Maersk Line and group leader A.P has commented. Møller-Mærsk, Søren Skou - we have completed a decisive step towards the shared future of Maersk Line and Hamburg Süd. Our procedure of two diligence - it has sottolineanto - has confirmed that Hamburg Süd is a society very managed with strong and held marks in maximum consideration. We have confirmed the previewed synergies (in the first biennium are attended savings saves pairs to 350-400 million dollars per year, ndr) and we are convinced that our plan face to maximize the loyalization of the customers constitutes the right roads. I do not have doubts that together we can develop new producing competitive for the benefit of our customers and to realize operating synergies".

"We - he has continued Skou - consider that the purchase price of 3,7 billion euros constitutes a corrected appraisal of Hamburg Süd. Maintaining Hamburg Süd which independent company and very managed we will limit the risks and the costs correlated to the transaction and integration having guaranteed however the exploitation of the operating synergies. Therefore the acquisition of Hamburg Süd will already determine the creation of a substantial value for the Maersk Line in 2019".

Maersk Line has confirmed moreover that the maintenance of the autonomy of the company of German navigation includes also the maintenance of the headquarters of Hamburg Süd to Amburgo, center for which is renewed the lease contract for an initial period five-year-old. "Hamburg Süd - Skou has restated - will continue to being managed from own management and will have the full responsibility of own brand".