Transport

Hapag-Lloyd AG is discussing a possible merger with Cia

Companies struggle to overcome a global trade slump that has left their industry in crisis

Hapag-Lloyd, the biggest German container line with a fleet of 152 vessels, is still reeling from the downturn triggered by the 2008 collapse of Lehman Brothers Holdings. Photograph: Morris Mac Matzen
Hapag-Lloyd, the biggest German container line with a fleet of 152 vessels, is still reeling from the downturn triggered by the 2008 collapse of Lehman Brothers Holdings. Photograph: Morris Mac Matzen
Mon Dec 09 2013 - 19:19

Hapag-Lloyd AG is discussing a possible merger with Cia. Sud Americana de Vapores SA, Latin America’s biggest container shipping line, as the companies struggle to overcome a global trade slump that has left their industry in crisis.

Talks are focused on whether “a possible business combination or any other form of association would be of mutual interest,” Hamburg-based Hapag-Lloyd said in a statement today.

CSAV shares rose 3 per cent to 29.40 pesos at 12.21pm in Santiago, bringing their two-day gain to 16 per cent after Die Welt newspaper first reported the talks yesterday. Hapag-Lloyd, the biggest German container line with a fleet of 152 vessels, is still reeling from the downturn triggered by the 2008 collapse of Lehman Brothers Holdings Inc. – (Bloomberg)