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German-Chilean container merger nearing reality

A merger between Hapag-Lloyd and Chilean CSAV, which would result in the 4th largest container carrier in the world, could become a reality before the end of the current quarter.

Photo: Hapag-Lloyd

A final agreement about a merger between German Hapag-Lloyd and Chilean CSAV is expected to be signed in early February, according to several media. The two carriers, which together would create the 4th largest container carrier in the world, announced in December 2013 that the companies were in talks about a potential merger or other form of collaboration.

"If there are no disagreements we should be able to sign a memorandum of understanding withing three weeks or so," says a source close to the proceedings, according to the Wall Street Journal.

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