Chilean CSAV became Hapag-Lloyd`s largest shareholder after acquiring an additional $330 million stake in Qatar Holding in the German airline earlier this month to increase its stake from 27.8% to 30%, Alphaliner reports. Hapag-Lloyd merged in 2014 with Chile`s Compania Sud Americana de Vapores (CSAV) and helped it swing into the beneficiary zone last year, but its shareholders still find it too small to prosper. Plans for the agreement were presented in April. Earlier this month, it received support from UASC shareholders. Hapag-Lloyd said its board of directors had approved the agreement that it would buy back all shares in the Kuwait-based UASC, which is majority-owned by the Qatari government. Hapag-Lloyd`s anchor shareholders and UASC shareholders have yet to give their approval. Oscar Hasbun, Managing Director of CSAV, described the purchase as „another example of our long-term commitment to Hapag-Lloyd and our confidence in the stability in which the company has given the shareholders` pact that we have entered into with K-hne Maritime and the City of Hamburg.” At the end of 2012, Hapag-Lloyd announced that it was considering merging with its small compatriot Hamburg South. The proposed mergers were adopted when the shareholders and owners of Hamburg S-d were unable to reach an agreement with the hapag-Lloyd players. [18] Subsequently, Hamburg South remained an independent private company until December 2016, when the container transport arm of the Danish logistics and energy company Maersk announced that it would buy Hamburg South. [19] Since its inception, Hapag-Lloyd has changed its shareholders and has also undergone a number of mergers with other companies. Hapag-Lloyd was acquired entirely by TUI AG (Hanovre) and became a subsidiary in 1998. This major event was followed by the sale of Hapag-Lloyd`s majority stake to various private investors in Hamburg in 2009 and 2012. Other important events in the company`s history are the acquisition of CP Ships by hapag-Lloyd in 2005, as well as the merger of Hapag-Lloyd with CSAV`s container business in 2014 and United Arab Shipping Company in 2017.
Qatar Holdings became a shareholder with Saudi Arabia PIF Hapag-Lloyd when it sold UASC to Hapag-Lloyd in 2017. In 2014, hapag-Lloyd acquired the activities of the Chilean company Compaa Sud Americana de Vapores SA (CSAV), which became the majority shareholder of Hapag-Lloyd. Hapag-Lloyd was the fourth largest container shipping company in the world. [20] [21] The Chilean shipping company CSAV has become the largest single shareholder of The German Hapag-Lloyd and exceeds the investment fund of Klaus Michael Kohne. This month, the Chilean company, which became a major minority shareholder in Hapag-Lloyd after acquiring CSAV`s container shipping facilities in 2015, increased its share share from 27.8% to 30% after acquiring shares in Qatar Holdings and reduced its stake from 14.5% to 12.3%, according to Alphaliner. On August 21, 2005, TUI AG agreed to buy Canadian company CP Ships Limited for 1.7 billion euros ($2.0 billion). The agreement, approved by the boards of CP Ships, TUI and shareholders, was a success and made the combined fleet the fifth largest capacity in the global container shipping market. [17] In addition, CSAV`s Board of Directors has agreed to hold an extraordinary shareholder meeting in the coming weeks to propose a capital increase of USD 350 million. In practical terms, the capital increase will be used „to adjust the company`s debt.” Hamburger Kohne Maritime is the second largest shareholder with 29.6 per cent.