December 1, 2016 / 9:00 AM / a year ago

Maersk to acquire Germany's Hamburg Sud

COPENHAGEN, Dec 1 (Reuters) - Denmark’s Maersk Line is to acquire German rival container shipping line Hamburg Süd and expects to finalise the transaction by end 2017, parent A.P. Moller-Maersk said on Thursday.

Maersk said the acquisition is subject to final agreement and regulatory approvals, and will have no impact on Maersk’s outlook for 2016.

A.P. Moller-Maersk said it expects to communicate further details following approval of the purchase agreement which is expected early in Q2 of 2017. (Reporting by Annabella Pultz Nielsen; editing by Jason Neely)

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