Hapag-Lloyd AG has agreed to buy Cia. Sud Americana de Vapores SA in a deal that would create the fourth biggest shipping firm in the world.
Luksic family
Breaking News
LQ Inversiones Financieras, Banco de Chile's majority shareholder, will sell up to 6.9 billion shares equivalent to $963 million. The exit deal would reduce LQ's stake in the Chilean lender from 58.4% to 51%.
Top executives of shipping companies Compania Sud Americana de Vapores and Hapag-Lloyd were reportedly negotiating a merger deal. Vapores has suffered losses and is seeking for ways to become more competitive.
