A bigger slice of Hapag-Lloyd
Special circumstances demand special measures. In this case, Kuehne Holding, in contrast to earlier statements, has further increased its share in the Hamburg-based carrier Hapag-Lloyd through its subsidiary Kuehne Maritime.
After having bought its first stake of Hapag-Lloyd in 2008, the freight forwarding group steadily purchased more shares until it became the shipping company's largest shareholder by the end of 2019. Kuehne Holding then decided to leave it at that, having acquired 29.2% of the shares and thus overtaken the Chilean shipping company CSAV and other large shareholders.
Now the Swiss-based K+N has increased its share in Hapag-Lloyd to "more than 30%". More detailed information about the transaction was not disclosed. The carrier had emphasised several times that it would prefer a higher share in "free float".
Karl Gernandt, executive chairman of Kuehne Holding, said that the aim to acquire a "share of some 30%", had been a long-term goal. In view of the current global pandemic, he confirmed "his continuing confidence in Hapag-Lloyd during times of crisis." (mw)