German logistics entrepreneur Klaus-Michael Kuehne and the city of Hamburg are aiming to buy more of a stake in Hapag-Lloyd from TUI, a majority shareholder trying to divest its shares, according to e Frankfurter Allgemeine Zeitung.
The paper said Kuehne and Hamburg want to offer to buy at least 20 percent of TUI's stake in Hapag-Lloyd.
TUI currently holds 38.4 percent of the German container shipping line, but it wants to divest its stake and recent attempts to launch an initial public offering or engage overseas investors have proved unsuccessful.
The paper said Kuehne and Hamburg want to offer to buy at least 20 percent of TUI's stake in Hapag-Lloyd.
TUI currently holds 38.4 percent of the German container shipping line, but it wants to divest its stake and recent attempts to launch an initial public offering or engage overseas investors have proved unsuccessful.