CSAV concludes capital increase
Compañía Sud Americana de Vapores (CSAV) yesterday (4 February 2015) ended its capital increase with the sum of USD 398 million.
The Chilean shipping company used the EUR 370 million that it obtained in the post-merger capital increase of Hapag-Lloyd to increase its shareholding in Hapag-Lloyd from 30% to 34%, and to cover the transaction closure expenses. At the end of the process, Quiñenco raised its stake in CSAV to 55.2% from 54.5% before the capital increase.
CSAV started the capital increase process on 15 December 2014, after the merger of its container shipping business with Hapag-Lloyd.