Deals
Hapag-Lloyd Talks to CSAV on Tie-Up to Fight Industry Slump
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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 percent to 29.40 pesos at 12:21 p.m. in Santiago, bringing their two-day gain to 16 percent after Die Welt newspaper first reported the talks yesterday.