The transaction between Oetker Group and Maersk Line
for Maersk Line's acquisition of Hamburg Süd, the German
container line, was closed on 30 November 2017.
On 1 December 2016, Maersk Line announced its intention to
acquire Hamburg Süd. The acquisition triggered a regulatory
approval process in 23 jurisdictions which was successfully
concluded on Tuesday 28 November with the approval of the
acquisition by the Korea Fair Trade Commission.
"With the final approval of the acquisition we have reached an
important milestone in our strategy to become an integrated
transport and logistics company delivering sustainable growth.
These are truly exciting times and we are looking forward to
taking the first steps forward as one company," says Søren Skou,
CEO of A.P. Moller - Maersk and continues:
"Hamburg Süd is an outstanding brand with high quality products.
By combining our two businesses we will reinforce the global
positions of both companies and enhance our service offers
The acquisition is in line with the Maersk Line's growth
strategy. It represents a unique opportunity to realise
commercial opportunities as well as sizable operational
synergies. Combined, the two companies will be able to realise
operational synergies in the region of USD 350-400 million
annually as from 2019.
Upon transfer of ownership, Dr. Ottmar Gast will retire as
Chairman of the Executive Board of Hamburg Süd to become new
Chairman of the Supervisory Board of Hamburg Süd. Søren Toft,
Chief Operating Officer, A.P. Moller - Maersk, will become Board
Member of the Supervisory Board of Hamburg Süd. New CEO for
Hamburg Süd will be Dr. Arnt Vespermann.
"Becoming part of the world's number one shipping company will
create a lot of opportunities. We will strengthen Hamburg Süd in
the global playing field and grow our market share together. At
the same time, Hamburg Süd will continue serving our customers as
a separate brand," says Arnt Vespermann.
In the future, Maersk Line and Hamburg Süd will offer customers
better market coverage, attractive direct services and other
benefits via a combined global network. The cost synergies will
primarily be derived from integrating and optimising the networks
as well as standardised procurement.
Together, Maersk Line and Hamburg Süd will have a total container
capacity of 4.15 million TEU and a 19.3% global fleet capacity
share (Alphaliner, 27 November 2017). 105 Hamburg Süd vessels
will be integrated into the fleet of Maersk Line. The combined
fleet will include a total of 772 vessels (owned and chartered).
Maersk Line will acquire Hamburg Süd for EUR 3.7 billion on a
cash and debt-free basis. Maersk Line will finance the
acquisition through a syndicated loan facility.