Container shipping company Maersk Line will pay EUR 3.7 billion (USD 4,033 million) for its acquisition of smaller German rival Hamburg Sud, including all subsidiaries and associated shipping companies.
The boards of Maersk Line and the Oetker Group, owner of Hamburg Sud, approved the proposed deal, which has been given the green light by the European Commission and the US Department of Justice.
"Maersk paid a significant amount for Hamburg Sud, but considering the wave of consolidation in the industry ... you do not get anything cheaply," Sydbank analyst Morten Imsgard said, adding that the final price was just within his highest estimate.
Hotel group Iberostar obtains MSC’s chain of custody Spain
Iberostar Group presented on Friday its new sustainable fisheries initiative together with the Marine Stewardship Council, becoming the first hotel chain in southern Europe to have the chain of custody of MSC.
Fresh cod exports grow but frozen cod sales fall Norway
A total of 5,700 tonnes of fresh cod, including fillets, were exported with a total value of USD 25.2 million in May, representing a 4 per cent growth in volume and a 12 per cent increase in value, according to the Norwegian Seafood Council.