Hapag-Lloyd completes capital increase

Hapag-Lloyd recently completed a planned capital increase of EUR 370 million as part of its business combination with the Chilean shipping company, Compania Sud Americana de Vapores (CSAV).

As planned, CSAV subscribed to EUR 259 million and Kuhne Maritime made a cash contribution of EUR 111 million.

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. It was to be implemented by the end of 2014.

After the capital increase, the shareholders of Hapag-Lloyd AG hold the following stakes:
CSAV with 34%, HGV (City of Hamburg) 23.2%, Kuhne Maritime 20.8%, TUI 13.9%, Signal Iduna 3.3%, HSH Nordbank 1.8%, M.M.Warburg & CO 1.8% (including two private investors), and HanseMerkur 1.1%.

CSAV, HGV, and Kuhne Maritime have agreed to pool 51% of the shares in Hapag-Lloyd in order to discuss and make key decisions together in the future.
Besides the closing on December 2, the capital increase was a requirement for releasing the bond with a volume of EUR 250 million that had already been placed successfully on November 20.

The proceeds from the bond with a maturity of five years will be used for the early redemption of the Hapag-Lloyd Euro bond due in October 2015. The redemption took place on December 23.

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