CSAV increases its stake in Hapag-Lloyd to 34 percent.
Hapag-Lloyd said Friday it had completed a plan to increase capital by 370 million euros ($453.7 million).
CSAV, the Chilean shipping company whose container business Hapag-Lloyd recently acquired, and Kühne Maritime contributed the money in exchange for larger shares in Hapag-Lloyd.
CSAV provided 259 million euros and increased its stake in Hapag-Lloyd from 30 percent to 34 percent, while Kühne Maritime contributed 111 million euros and saw its stake increase to 20.8 percent. Other major owners of Hapag-Lloyd are HGV, the holding company of the City of Hamburg (23.2 percent); the tourism company TUI (13.9 percent); insurer Signal Iduna (3.3 percent); HSH Nordbank (1.8 percent); the bank M.M. Warburg and two private investors (1.8 percent); and insurer Hanse Merkur (1.1 percent).
The capital increase had already been agreed upon in mid-April with the signing of the contracts to combine CSAV’s container business with Hapag-Lloyd to form the world’s fourth largest container shipping company.
Hapag-Lloyd completes capital increase
