On 1 December 2016, Maersk Line announced its intention to acquire Hamburg Süd. The acquisition triggered a regulatory approval process in 23 jurisdictions which was concluded on 28 November with the approval of the acquisition by the Korea Fair Trade Commission.

“With the final approval of the acquisition we have reached an important milestone in our strategy to  become an integrated transport and logistics company delivering sustainable growth,” says Søren Skou, CEO of A.P. Moller - Maersk.

As explained, the acquisition is in line with the Maersk Line’s growth strategy. Combined, the two companies will be able to realise operational synergies in the region of USD 350-400 million annually as from 2019.

“Becoming part of the world’s number one shipping company will create a lot of opportunities. We will strengthen Hamburg Süd in the global playing field and grow our market share together. At the same time, Hamburg Süd will continue serving our customers as a separate brand,” says Arnt Vespermann.

Together, Maersk Line and Hamburg Süd will have a total container capacity of 4.15 million TEU and a  19.3% global fleet capacity share, according to Alphaliner. 105 Hamburg Süd vessels will be integrated into the fleet of Maersk Line. The combined fleet will include a total of 772 vessels (owned and chartered).

Maersk Line will acquire Hamburg Süd for EUR 3.7 billion on a cash and debt-free basis. Maersk Line will finance the acquisition through a syndicated loan facility.