Suspension of project work relating to a merger of Hapag-Lloyd and Hamburg Süd

The shareholders of Hapag-Lloyd and Hamburg Süd have jointly arrived at the conclusion to discontinue talks temporarily.

Hamburg Süd does not wish to comment publicly on the subject matter of the points under discussion. It does, however, expressly point out that the owners of Hamburg Süd – unlike the impression conveyed in various press articles – positively favour a flotation of the merged new company if certain conditions are met.

The Advisory Board and Executive Board of Hamburg Süd remain firmly of the view that the merger of Hapag-Lloyd and Hamburg Süd would be of enormous benefit for both companies as well as for Hamburg as a shipping location. < Korea Shipping Gazette >