News

17.02.2014

Artikel Nummer: 5020

CSAV plans capital increase ahead of potential merger with HL


The Chilean carrier CSAV is planning two capital increases ahead of the potential merger with the German liner shipping company Hapag-Lloyd. The first exercise is scheduled for March and still requires approval by an extraordinary shareholder meeting.

 

The capital increase is set to raise USD 200 million for financing seven 9,300 teu vessels under construction at the South Korean Samsung Heavy Industries shipyard. 

 

The second capitalisation of up to USD 400 million will only be carried out if the merger takes place. CSAV stated that this money will be used to subscribe to the EUR 259 million that CSAV has committed to Hapag-Lloyd. The CSAV board deemed it necessary that the second capital increase raise at least USD 200 million so that the company has the requisite funds to participate in Hapag-Lloyd’s capital increase.

 

www.csav.com

www.hapag-lloyd.com