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Europe approves shipping merger between Hapag-Lloyd and UASC

Staff Writer |
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of United Arab Shipping Company (UASC) by Hapag-Lloyd of Germany, subject to conditions.

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."

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