MERGERS: COMMISSION APPROVES CONTAINER LINER SHIPPING MERGER BETWEEN HAPAG-LLOYD AND UASC, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of United Arab Shipping Company ("UASC") by Hapag-Lloyd of Germany, subject to conditions. Both companies operate in the container liner shipping sector. The clearance is conditional on the withdrawal of UASC from a consortium on the trade routes between Northern Europe and North America, where the merged entity would have faced insufficient competitive constraint. Commissioner Margrethe Vestager, in charge of competition policy, said: "European companies rely on container liner shipping services for their transatlantic shipments. It's very important that the markets remain
Share on
|
|
The EU Commission clears a merger, subject to remedies, in the container liner shipping market (Hapag-Lloyd / UASC)
Access to this article is restricted to subscribers
Already Subscribed? Sign-in
Access to this article is restricted to subscribers.
Read one article for free
Sign-up to read this article for free and discover our services.
