Europe approves shipping merger between Hapag-Lloyd and UASC
Both companies operate in the container liner shipping sector.
The clearance is conditional on the withdrawal of UASC from a consortium on the trade routes between Northern Europe and North America, where the merged entity would have faced insufficient competitive constraint.
Commissioner Margrethe Vestager, in charge of competition policy, said: "European companies rely on container liner shipping services for their transatlantic shipments.
"It's very important that the markets remain open.The commitments offered by Hapag-Lloyd ensure that the takeover will not lead to price increases on the routes between Northern Europe and North America." ■