Subscribe to RSS feedStruggling Hapag-Lloyd sells Altenwerder stake
by
Janet Porter - Lloyd's List
—
last modified
Jul 29, 2009 11:56 AM
Hapag-Lloyd is to sell its 21.5% stake in Hamburg container terminal Altenwerder for €315m (US$446.3m) as part of a rescue package agreed with key shareholders last night.
The struggling German container line hopes to buy back its holding when economic conditions improve.
The company is seeking €750m from its shareholders, of which €300m is required immediately.
Hapag-Lloyd needs to have that finance in place before approaching Berlin for a...
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