Maersk Line has been given final regulatory approval for its €3.7 billion acquisition of Hamburg Süd.
It had to get approval from 23 different jurisdictions – the last was the Korea Fair Trade Commission.
“With the final approval of the acquisition we have reached an important milestone in our strategy to become an integrated transport and logistics company delivering sustainable growth,” said Søren Skou, chief executive of AP Moller – Maersk.
Together, Maersk Line and Hamburg Süd will have a total container capacity of 4.15 million TEU and a 19.3 per cent global fleet capacity share (Alphaliner, 27 November 2017). 105 Hamburg Süd vessels will be integrated into the fleet of Maersk Line. The combined fleet will include a total of 773 vessels (owned and chartered).
Maersk expect the combination of the two companies to give savings of $350 – 400 million a year from 2019.