Shareholders and Advisory Board of Dr. August Oetker KG give consent to the sale of Hamburg Süd to Maersk Line A/S
The shareholders and Advisory Board of Dr. August Oetker KG have approved the Sale and Purchase Agreement made between Dr. August Oetker KG and Maersk Line A/S on the sale of Hamburg Südamerikanische DampfschifffahrtsGesellschaft KG (Hamburg Süd) including all subsidiaries and associated shipping companies.
“The due diligence process carried out in the past months confirmed that Hamburg Süd is a stable and excellently positioned company and will be an attractive addition to the existing business area of the purchaser, Maersk Line,” explains Dr. h. c. August Oetker, Chairman of the Advisory Board of Dr. August Oetker KG. “The shareholders and the Advisory Board of Dr. August Oetker KG thank all employees of Hamburg Süd for their energetic and constructive support of the sales process, which can now be taken to its final stage. We are confident that the Maersk Group, as an economically strong partner, will successfully lead Hamburg Süd into the future and welcome its staff to the Maersk family with open arms.”
Competition authorities of the USA and EU have already approved the sale, partly with conditions attached. Authorities in other countries are still in the process of examining the documents. Execution of the Sale and Purchase Agreement (Closing) is to take place when all relevant approvals have been received, which is likely to be the case by the end of this year.