Bye ~ maersk officially announced the acquisition of Hamburg South America (Hamburg Sud)

On April 28, according to foreign media reports, maersk and autodesk group board of directors approved the transfer of maersk line buy Hamburg South American trade agreement, the purchase price of 3.7 billion euros ($4.03 billion).

Maersk announced in December 2016 that it would buy Hamburg South America, and the deal was signed on March 14, 2017.

On Friday, maersk notified the stock exchange that it would complete the acquisition through syndicated loan.

Maersk CEO S ø ren Skou said in a statement: “today, maersk and Hamburg South America on the way of the future common development took an important step. Through our due diligence investigation confirmed that hamburger is a South American operation is successful, in the industry has a good reputation of the company.”

“The purchase price is 3.7 billion euros, and we think the price really reflects the market value of Hamburg South America.” Skou said

Regulators in the European Union and the United States have approved the purchase, but they still have to wait for regulatory approval from other countries.

In a statement, South American CEO August Oetker thanked the South American staff for their patience in the process, which drew considerable attention from the industry.

“Shareholders and advisory committee thanks to all the employees in the process of acquisition of Hamburg South America a positive and constructive support, buy now entered the final stages, we believe that the maersk group, is a powerful partner, will successfully lead Hamburg South America better future development, continue to provide customers with quality service, and provide good development opportunity for employees” August Oetker said.

From the point of the current information, Hamburg South American brand will continue to be preserved, Hamburg South America will not disappear, Hamburg South America will continue to be “beauty” in the shipping industry.

Maersk CEO S ø ren Skou said: “we are sure that this acquisition will implement the synergy of the two companies to cooperate, at the same time we also clear, the maximum retention Hamburg South America existing customer base is the correct development strategy.”

The maersk group expects to generate synergies of $350m to $400m a year starting in 2019.

“Through Hamburg South America as an independent and well-run company, we will be able to reduce the trade and integration of risk and cost, at the same time, still can obtain operational synergies. Therefore, Hamburg South American acquisition will bring substantial value for maersk. In 2019,” S ø ren Skou said

Maersk is expected to close the deal by the end of 2017. Until then, Hamburg, South America and maersk will continue to operate independently.

Maersk and Hamburg South America will have a combined capacity of 3.9m TEU, with the market share rising to 18.7% and its container ships to 743.

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