Hamburg Süd and CCNI sign Sale and Purchase Agreement

Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (Hamburg Süd) with headquarters in Hamburg, Germany, is pleased to announce that the company has signed a Sale and Purchase Agreement to acquire the container liner activities of Compañía Chilena de Navegación Interoceánica S.A. (CCNI) including the related general agency functions of Agunsa Agencias Universales S.A, (Agunsa), with headquarters in Valparaiso and Santiago de Chile.

The take-over of the CCNI / Agunsa business is, subject to approval by the competent antitrust authorities, scheduled to become effective at the end of March 2015.

Hamburg Süd will operate the CCNI container liner business under this well established brand name in the main trades between the West Coast of South America, Asia, Europe and North America respectively. Merging the experienced workforces of CCNI and Hamburg Süd will help to create an even stronger organization that will provide a first class service to the customers of both companies.

CCNI will discontinue their container liner services and will only be using the CCNI name for the Car Carrier activities which they will retain. Agunsa will continue representing other shipping lines as agent and will also further develop its port and logistics services business in South America.

CSAV Hapag merge

Today Hapag-Lloyd completed the planned capital increase of EUR 370 million as part of the business combination with the Chilean shipping company Compañía Sud Americana de Vapores (CSAV). As planned, CSAV subscribed to EUR 259 million and Kühne Maritime made a cash contribution of EUR 111 million. The capital increase had already been agreed upon 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%, Kühne 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 Kühne Maritime have agreed to pool 51% of the shares in Hapag-Lloyd in order to discuss and make key decisions together in the future.
Beside the Closing on 2 December, the capital increase was a requirement for releasing the bond with a volume of EUR 250 million that had already been placed successfully on 20 November. 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 will take place on 23 December.