November 30th, Maersk and Autodesk group (Oetker Group) on the acquisition of German container shipping company Hamburg shipping group (Hamburg Sud) the transaction has been completed. The transaction price is 3 billion 700 million euros (about 4 billion 400 million dollars). Maersk shipping will be acquired in cash, and the related funds will be obtained through syndicated loan.
In December 1, 2016, Maersk shipping announced the intention to buy Hamburg Sud. which was approved by 23 national or regional regulatory agencies. All approval procedures were completed after the approval of the Korea Fair Trade Commission in November 28th.
Soren Skou, chief executive of Maersk Group, said: "the acquisition of Hamburg Sud has been approved by all relevant jurisdictional regulatory agencies. This is an important milestone for our group strategy to become a comprehensive logistics and logistics service provider and achieve sustainable growth. This is a really exciting moment and we are looking forward to taking the first step with Hamburg and South America to become a company.
Soren Skou said: "Hamburg Sud is an excellent shipping company, providing high quality airline products and services." The integration of Maersk shipping and Hamburg's two South American companies will enhance our global position and provide better services for our customers. "
This acquisition is in line with the growth strategy of the Maersk shipping company. It provides a unique opportunity to achieve more business opportunities and significant operational synergies. It is expected that from 2019, the merger of the two companies can produce a synergistic effect of $350 million to $400 million per year.
After the transfer of ownership, Dr. Ottmar Gast will retire from the position of the chairman of the Hamburg Sud executive board and become the new chairman of the Hamburg South American Board of supervisors. Soren Toft, the chief operating officer of the Maersk Group, will be a member of the Hamburg South American Board of supervisors. Dr. Arnt Vespermann will be the new chief executive of Hamburg Sud
