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.
Subscribe to VCpost newsletter
Most Popular
- Taylor Swift Bill Signed Into Law by Minnesota Governor to Boost Protections for Online Ticket Buyers
- Tennessee Cleaning Company Fined $650,000 for Illegally Hiring Children, Some as Young as 13, to Clean Dangerous Slaughterhouses
- New York Is the World's Richest City, With Its Millionaires and Billionaires' Wealth Greater Than GDPs of Brazil, Canada, Italy
- AstraZeneca to Pull Out COVID-19 Vaccine Worldwide After Adverse Side Effect Admission
- Joe Biden Administration Sanctions Colombian Maritime Companies Preying on Vulnerable Migrants Seeking to Enter US
- Amgen Challenges Novo Nordisk, Eli Lilly in Weight Loss Drug Market as Investors Flock for Next Obesity Drug Payout
- Steward Health Care Puts All 31 Hospitals up for Sale to Address $9 Billion Debt After Filing for Bankruptcy
- Mini Gold Bars Are Causing a Frenzy in South Korea as Buyers Rush to Get Them in Convenience Stores, Vending Machines