April 28, 2017
"Today the sale and purchase agreement for the acquisition of Hamburg Süd was finanlized as the boards of Maersk Line and the Oetker Group, owner of Hamburg Süd, have approved the agreement. The acquisition still remains to regulatory approvals.
A strong Hamburg Süd, which will maintain its separate brands under an own structure, is expected to deliver a higher customer retention and thereby add to Maersk Line's growth agenda. Moreover, the two companies will combined be able to realize sizeable operational synergies over the first couple of years following completion of the transaction.
The cost synergies will primarily be derived from integrating and optimizing the networks as well as optimization of suppler contracts and contributions to the APM Terminals global portfolio.
The combined network will include number of weekly sailings, faster transit times, greater services scope and more direct port-to-port calls, to the benefits of both Maersk Line and Hamburg Süd customers.
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