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Current Position:Home » News » General News » Topic

Maersk Line linked to Hamburg Süd acquisition

Zoom in font  Zoom out font Published: 2016-11-30  Views: 33
Core Tip: Maersk Line, an arm of Danish conglomerate, A.P. Moeller-Maersk A/S, is looking to buy German peer Hamburg Süd.
Maersk Line, an arm of Danish conglomerate, A.P. Moeller-Maersk A/S, is looking to buy German peer Hamburg Süd, industry sources said, a deal that would help the world's leading container-shipping operator boost its presence in trades from Latin America to the rest of the world.

Maersk is interested in acquiring the entire Hamburg Süd business, which had a $6.7 billion in revenue in 2015, not just picking up a few vessels, a person familiar with the matter said.

Hamburg Süd, the world's seventh-biggest container operator in terms of capacity, is part of the Oetker Group, a family-owned German conglomerate involved in shipping, banking, food and beverages. The Wall Street Journal last week reported that the Oetker family is discussing a sale of the shipping business, which may go on the block by the end of the year. A person involved in the matter said the family will likely make a decision on whether to sell this week.
 
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