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Tuesday, 28 March 2017

Hapag Lloyd-UASC merger hits snags over future share ownership: sources | Reuters

Hapag Lloyd-UASC merger hits snags over future share ownership: sources | Reuters:

"A merger of Hapag-Lloyd (HLAG.DE) and United Arab Shipping Company (UASC) has hit a snag, with the German shipping line and some banks seeking assurances that UASC's top shareholder Qatar remain committed to the deal for the long term, sources say. Hapag Lloyd Chief Executive Rolf Habben Jansen told a news conference this week he had underestimated the complexity of the 7 billion to 8 billion euro ($7.6-$8.7 bln) deal, which will create one of the world's largest shipping lines. Two finance sources, who declined to be identified citing deal sensitivity, said one of the main concerns of Hapag Lloyd and some of the Gulf-based syndicate banks is that Qatar could in future lower its stake in the combined group. "



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