UASC approves Hapag-Lloyd merger deal

The merger between Hapag-Lloyd and United Arab Shipping Company is on track for completion. On Wednesday, the Board of Directors at UASC, which is owned by six Middle East states headed by Qatar, cleared the transaction. Now only Hapag-Lloyd's shareholders need to approve the deal.

Photo: PR-foto/Hapag-Lloyd

The Board of Directors at United Arab Shipping Company (UASC), which is owned by a group of Middle Eastern nations headed by Qatar, on Wednesday green-lighted the merger with Hapag-Lloyd, report several international media.

The approval comes a day after the Board of Directors at the German container carrier cleared the transaction.

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