Distinction for merger with UASC / Jury: good strategic fit / Integration proceeding according to plan
LONDON/HAMBURG: At the Lloyd’s List Global Awards held in London recently, Hapag-Lloyd was awarded one of the industry’s most prestigious honors: The liner shipping company won the “Deal of the Year” award for its merger with UASC, a project dubbed “better.united.”, thereby prevailing against six other finalists.
In the jury’s view, the merger was not easy to pull off in an environment of ongoing consolidation in the industry, but it was at the same time a good strategic decision. With this move, the jury continued, Hapag-Lloyd climbed into the ranks of the top 5 carriers in the World, was able to strengthen its presence in the Middle East and Asia, and will be able to leverage important synergies. Cameron Bowie, Managing Director Area UK, accepted the award on behalf of Hapag-Lloyd at a gala celebration attended by 400 guests at the National Maritime Museum. Lloyd’s List is one of the oldest and most important trade publications in the world of shipping.
“This major honor particularly pleases me because it documents just how significant this merger was – not only for us, but evidently also for the entire industry,” said Mr. Rolf Habben Jansen, CEO of Hapag-Lloyd AG. “I would like to extend my thanks to the employees in both companies, who worked on this project hard and enthusiastically.” The official merger of Hapag-Lloyd and UASC occurred on May 24, 2017. “The integration is proceeding according to plan,” Habben Jansen added.
“We are optimistic that we will be able to largely complete it before the end of the third quarter of this year.”