Ad hoc Releases

Hapag-Lloyd AG: Agreements on merger between Hapag-Lloyd AG and United Arab Shipping Company S.A.G. signed

Hapag-Lloyd AG  / Key word(s): Mergers & Acquisitions

18.07.2016 08:55

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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The agreements on the merger between Hapag-Lloyd AG (Hapag-Lloyd) and
United Arab Shipping Company S.A.G. (UASC) have been signed. Besides the
Business Combination Agreement (BCA) between the two companies, the
controlling shareholders, namely CSAV Germany Container Holding GmbH, HGV
Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH and
Kühne Maritime GmbH on the side of Hapag-Lloyd, and Qatar Holding LLC on
behalf of the State of Qatar and The Public Investment Fund of the Kingdom
of Saudi Arabia on the side of UASC, have assumed certain commitments with
regard to the merger and the future equity funding of the company in a
separate agreement, the so-called Shareholders Support Agreement (SSA). In
that agreement some shareholders of either side have committed to backstop
a cash capital increase in the amount of USD 400 million planned by way of
a rights issue within 6 months after the closing of the transaction.

UASC is the largest container shipping company in the Middle East. After
completion of the merger, Hapag-Lloyd will be the world's fifth largest
container carrier with a fleet capacity of around 1.6 million TEU and an
expected market share of round 7 %. The executive board estimates that
there is potential for synergies of at least USD 400 million per year and
expects that roughly one third of the cost savings expected as a result of
these synergies can be realized as early as 2017.

The transaction is subject to clearance by the relevant antitrust
authorities and the consent of the financing banks.


18.07.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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Language:     English
Company:      Hapag-Lloyd AG
              Ballindamm 25
              20095 Hamburg
              Germany
Phone:        +49 (0) 40 3001 - 2896
Fax:          +49 (0) 40 3001 - 72896
E-mail:       [email protected]
Internet:     www.hapag-lloyd.com
ISIN:         DE000HLAG475, USD33048AA36
WKN:          HLAG47, A1E8QB
Indices:      SDAX
Listed:       Regulated Market in Frankfurt (Prime Standard), Hamburg;
              Regulated Unofficial Market in Berlin, Dusseldorf, Hanover,
              Munich, Stuttgart, Tradegate Exchange
 
End of Announcement                             DGAP News-Service
 
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