Maersk Line’s acquisition of Hamburg Sud has moved a step closer with the signing of a sale and purchase agreement with Dr August Oetker KG.
A relevant announcement reads:
On December 1, 2016 Dr. August Oetker KG announced that it will after 80 years divest from its shipping interests and that intends to sell the ownership of Hamburg Süd and all its affiliates including the main business assets (vessels and containers) to Maersk Line A/S, Copenhagen, Denmark.
We are pleased to inform that, today, the parties have signed a Sale and Purchase Agreement which in the coming weeks will be reviewed and authorized by the respective Supervisory Boards and Shareholder Assemblies between end of April / mid May. Subject to the approval by the competent regulatory bodies the Closing may take place at the end of this year.