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2014-11-10
Hapag-Lloyd-CSAV merger wins approval of CADE Brazilian regulator
(Shipping Gazette 8 Nov 2014)
THE Hapag-Lloyd merger with Chile's Compania Sud Americana de Vapores (CSAV) has cleared regulatory hurdles with Brazilian regulator Conselho Administrative de Defensa Economica (CADE), the German carrier announced.
Hapag-Lloyd and CSAV's deal in April was still subject to the approval of regulatory authorities including the US Department of Justice, the European Commission and Chile's maritime authorities. All of these issues have been resolved.
The transaction will make Hapag-Lloyd the fourth largest container shipping company in the world, with some 200 vessels, an annual transport volume of 7.5 million TEU and a combined turnover of EUR9 billion (US$11.3 billion).