Hapag-Lloyd, United Arab Shipping sign merger agreement
Hapag-Lloyd, United Arab Shipping sign merger agreement
Frankfurt - Arab Today
German container shipping giant Hapag-Lloyd said on Monday it had signed a merger deal with the United Arab Shipping Company to form the world's fifth-largest container firm.
"Hapag-Lloyd AG and United Arab Shipping company have signed a Business Combination Agreement today about the merger of the two firms, pending the necessary regulatory approval," the firm said in a statement.
No financial details were disclosed.
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