On 5th October 2017, Maersk Line’s proposed acquisition of Hamburg Süd, a container liner shipping company based in Hamburg, Germany, was approved by the competition authorities of South Africa (The Competition Tribunal of South Africa).
“We are very pleased that the proposed acquisition of Hamburg Süd has now been approved in South Africa. South Africa is an important market for us and we strongly believe the proposed acquisition of Hamburg Süd will enhance the value proposition for the local customers of both companies,” says Soren Toft, Chief Operating Officer Maersk Line.
The clearance is conditional upon Hamburg Süd’s withdrawal from the SAAF vessel sharing agreement operating in the South Africa – East Coast South America trade. The withdrawal will become effective after closing of the proposed acquisition. Hamburg Süd will remain active on the trade after closing as part of the combined Maersk Line/Hamburg Süd network.
Maersk Line’s proposed acquisition of Hamburg Süd remains subject to regulatory approvals. The process of obtaining these approvals is on track, with clearances obtained from a number of jurisdictions, including the US, Australia, the EU, Mexico, Turkey, Japan, Ecuador, Brazil and as of today South Africa.”
The proposed acquisition was announced on December 1, 2016, with the Sales Purchase Agreement being signed on March 14, 2017. Hamburg Süd complements Maersk Line and together we can offer our customers the best of two worlds. With the combined network, Hamburg Süd and Maersk Line’s customers will have access to the dedicated end-to-end services provided by Hamburg Süd in the North–South trades as well as the flexibility and reach provided in Maersk Line’s global network. Furthermore, the combined network will enable Maersk Line to develop new products with more direct port calls and shorter transit times.