US approves merger of CSAV and Hapag-Lloyd
The Department of Justice and the Federal Trade Commission of the USA have granted clearance to the merger of the container shipping business of Compañía Sud Americana de Vapores (CSAV) and Hapag-Lloyd.
This is part of the consultation process with regulatory authorities both companies are carrying out in order to merge their container businesses. In April 2014, CSAV and Hapag-Lloyd signed a binding agreement. However, the materialization of this is still subject to the approval of other regulatory authorities around the world.