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Hapag-Lloyd shareholders approve merger term with UASC

GERMANY's Hapag-Lloyd said its shareholders approved the share capital increase needed for the merger with Dubai's United Arab Shipping Co (UASC).

Hapag-Lloyd shareholders approve merger term with UASC
30 August 2016 - 20:24
Hapag-Lloyd shareholders approve merger term with UASC

GERMANY's Hapag-Lloyd said its shareholders approved the share capital increase needed for the merger with Dubai's United Arab Shipping Co (UASC).

The merger is still subject to antitrust approvals. Hapag-Lloyd submitted the relevant applications soon after signing the business combination agreement. 

"The main matter regarded creating the capital conditions required for the planned merger with the Arabian liner shipping company UASC. The shareholders therefore approved the creation of new authorised share capital. 

This is to be used for the merger with the liner shipping company UASC, which is to be incorporated into Hapag-Lloyd as a contribution in kind," says a statement from the company. 

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