Compañía Chilena de Navegación Interoceánica S.A. (CCNI) with headquarters in Valparaiso, Chile and Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (HSDG) with headquarters in Hamburg, Germany have signed a preliminary agreement on merger deal, the German operator said.
Under the agreement HSDG will acquire the container liner activities of CCNI including the related general agency functions subject to Due Diligence, execution of a Sale & Purchase Agreement and approval by the competent authorities. This acquisition is scheduled to be executed by the latest on December 31, 2014.
HSDG intends to strengthen its liner network to and from South America by integrating the CCNI liner services. Merging the dedicated and experienced workforce of CCNI and HSDG will help to create an even stronger organization that will provide a first class service to the customers of both companies.
Following the transaction CCNI will continue its non-liner shipping activities including the car carrier and ship-owning business.
Hamburg Süd employs more than 4,700 staff. It operates 174 ships and maintains a global inventory of some 349,000 containers in a wide array of sizes and configurations and strategically positioned to meet the regional and seasonal needs of our customers. Hamburg Süd is part of the successful Oetker Group, one of the largest and best-known family businesses in Germany.