The owners of the Hamburg Süd Group have announced their intention to sell the Company to Maersk Line A/S. Subject to the required regulatory and shareholder approvals the transaction will be concluded at the end of 2017 at the earliest. This is a very important decision in the 145 year history of the Hamburg Süd Group which should be seen positively for the following reasons:
- Through this transaction the Hamburg Süd Group brands will gain access to the scale and network of Maersk Line A/S to ensure a continued high-quality and sustainable service to its clients in a very competitive industry;
- Hamburg Süd will be able to expand and grow as part of Maersk Line A/S and will continue being a reliable and sustainable partner for its business partners.
The agreement, following a recent wave of consolidation in the industry, will leave only 13 global companies (most of them with cargo-sharing agreements) compared to 20 at the beginning of the year, of which Maersk-Hamburg Sud would control almost 20% of the world market. In the case of Brazil would be 80% of the market, according to analysts.