DGAP-News: Hapag-Lloyd AG / Key word(s): Merger
Hamburg, 17 March 2017
Hapag-Lloyd AG and UASC shift Long-Stop Date under Business Combination Agreement
Final preparations on track for closing during next weeks / Transaction not at risk / Start of THE Alliance not affected
Hapag-Lloyd and UASC have mutually agreed to shift the Long-Stop Date under the Business Combination Agreement (BCA) until 31 May 2017 and have amended the BCA accordingly. The merger companies had originally envisaged to close the transaction by 31 March 2017 but now expect closing to take place in the weeks thereafter. All merger clearances and authority approvals as well as all necessary banking approvals from Hapag-Lloyd AG's side and substantially all banking approvals from UASC's side have been obtained and the merger parties are arranging the final documentation for a closing of the business combination. The final preparations for the closing take more time than expected. The transaction itself is not at any risk.
Irrespective of the actual closing date THE Alliance will start its operation as of 1 April 2017 including all vessels as planned. The first time consolidation of UASC into Hapag-Lloyd will take place as of closing.
|Phone:||+49 (0) 40 3001 - 2896|
|Fax:||+49 (0) 40 3001 - 72896|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|
Microsoft will stop supporting your web browser in January 2016. As of April 2016 your web browser ( IE8 or lower ) will no longer be fully supported by our website.
To continue to make full use of our website and for a faster, more reliable and secure browsing experience, we encourage you to upgrade to a newer version or other modern browser.
A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page