Hapag-Lloyd AG, announced that it will carry out a capital increase, planned after the merger of the company with United Arab Shipping Company (UASC) in May, reaching an approximate amount of 352 million euros.
Within the agreement, the shareholders of both companies, supported by Compañía Sudamericana de Vapores (CSAV), the main shareholder of Hapag-Lloyd, Germany Container Holding GmbH, Kuehne Maritime GmbH, Qatar Holding Germany GmbH and the Public Investment Fund of Saudi Arabia , approved the operation to exercise their "subscription rights and acquire new shares that are not acquired by other shareholders", starting from the shareholders' subscription period that will take place from October 2 to 16.
In this way, the capital of Hapag-Lloyd of 164 million 042 thousand 940 euros will increase by 11 million 717 thousand 353 euros to 175 million 760 thousand 293 euros.
The capital increase of 352 million euros will be used mainly for the repayment of the debt, agreed upon from the merger, as well as for general purposes of the company.
“After the successful merger with UASC, we will use the capital increase to strengthen our capital structure and use the proceeds to reduce the company's leverage. This allows us to focus on improving our strategic and operational objectives ”, Rolf Habben Jansen, CEO of Hapag-Lloyd AG.
Description : Hapag-Lloyd AG , announced that it will carry out a capital increase, planned after the merger of the company with United Arab Shipping Comp...
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