Hapag-Lloyd has received Mexican approval for its merger with CSAV, taking the company one step closer to being number four in worldwide liner shipping.
Hapag-Lloyd and Compañía Sud Americana de Vapores (CSAV) signed a merger agreement in April 2014, with implementation subject to the approval of regulatory authorities.
So far the Deparment of Justice in the US, the EU, Chile and Brazil have cleared the transaction. Two more approvals from regulatory authorities are currently pending.
The merger will ensure Hapag-Lloyd is the fourth largest container shipping company in the world, with 200 vessels and an annual transport volume of 7.5 million teu, and an approximate combined turnover of nine billion Euros.