Investor hangs on to Hapag-Lloyd share

Following the recruitment of Rolf Habben-Jansen as new CEO, Hapag-Lloyd major investor, the travel group TUI, has opted not to put its 22 percent share up for sale yet, says CEO of TUI.

Photo: Hapag-Lloyd

According to Friedrich Joussen, CEO of the travel group TUI, which owns 22 percent of German container carrier Hapag-Lloyd, a potential sale of the shares will not happen before the second half of 2014, at the earliest. The reason why the group has opted not to sell its shares, as otherwise announced, is that the German carrier will be to unstable in the time before Rolf Habben-Jansen moves from Maersk-owned Damco to Hapag-Lloyd in July next year, and the share will therefore decrease in value, says Friedrich Joussen according to Bloomberg.

TUI, which is Europe's largest travel group and counts Norwegian shipowner John Fredriksen among its shareholders, has repeatedly expressed a desire to sell its shares in the major German carrier when the freight market gets back on its feet. Earlier this spring, a potential merger between Hapag-Lloyd and Hamburg Süd was discussed, but nothing further happened in that regard.

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