Subscribe to RSS feedOwners pump US$600m into Hapag-Lloyd
Tui and the Albert Ballin consortium yesterday agreed to provide Hapag-Lloyd with an additional €420m (US$600m) emergency funding, fulfilling one of the prerequisites which will allow the company to apply for government-backed assistance.
In a joint statement, Hapag-Lloyd’s owners said that they would give the shipping line a capital injection in proportion to their stake in the company.
In addition, Tui will convert loans it has already granted to Hapag-Lloyd into equity or hybrid...
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