Shares in container carrier CSAV, Cia. Sud Americana de Vapores SA, are plummeting on the Santiago Stock Exchange after shareholders have studied the planned agreement, which has Hapag-Lloyd acquiring the Chilean carrier in return for CSAV securing a 30-34 percent stake in the German carrier.
Bloomberg reports that the CSAV share decreased 12 percent on Friday, for the biggest decline in two years, following a period in which the share, since December 3rd 2013, has increased by 31 percent, which was the day before CSAV - controlled by the wealthy Luksic family - notified the market about the negotiations with Hapag-Lloyd.
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