M&As this week: Maersk Line, Survitec Group

8 December 2016 (Last Updated December 8th, 2016 18:30)

Maersk Line has entered into an agreement with Oetker Group to acquire German container shipping line Hamburg Süd, for an undisclosed value.

Maersk Line has entered into an agreement with Oetker Group to acquire German container shipping line Hamburg Süd, for an undisclosed value.

Hamburg Süd operates a 130 container vessels in the north-south trade routes, offering a total container capacity of 625,000 twenty-foot equivalent units (TEU).

The company manages more than 250 offices worldwide, employing 5,960 people. Its brands include Hamburg Süd, CCNI, and Aliança.

"Hamburg Süd and Aliança will operate as separate entities serving customers through their local offices."

Following the completion of the acquisition, Hamburg Süd and Aliança will operate as separate entities serving customers through their local offices.

Scheduled for completion by the end of 2017, the deal will increase Maersk Line’s container capacity to approximately 3.8 million TEU and container fleet capacity to 741 vessels.

Survitec Group has merged with Wilhelmsen Maritime Services’ (WMS) marine safety business. The new entity operates under the name Survitec Group.

WMS currently holds a 20% stake in Survitec, while the merger involved the transfer of 700 Wilhelmsen employees to Survitec.

Surcitec Group is based in the UK, whereas WMS is based in Norway.