GERMAN
shipping giant Hapag-Lloyd, the fourth biggest after Maersk, MSC and CMA
CGM, is preparing for an initial public offering (IPO) by picking
Deutsche Bank, Goldman Sachs and Berenberg to lead the transaction, Reuters
reports.
This comes
amid speculation that Hapag-Lloyd is among the leading candidates to take over
Singapore's NOL and its principal holding APL now Temasek appears ready to
sell. Hong Kong's OOIL has also been named as a candidate.
A flotation
of a Hapag minority stake could value Hapag-Lloyd at more than EUR5
billion (US$5.5 billion) and take place as early as the fall, Dow
Jones reported.
When it
announced its merger with the container shipping activities of Chilean
rival Compania Sud Americana de Vapores (CSAV) last year, Hapag-Lloyd
said it would seek to list on the stock exchange.
But CEO
Rolf Habben Jansen said in May a flotation was more likely after 2015.
Europe's
largest tourism group TUI, which holds 13.9 per cent in Hapag, has stressed
in the past that it wants to sell its stake in the event of an IPO as part of a
strategy to focus solely on tourism.
The Vapores
owner family holds 34 per cent in the combined group, while the City of Hamburg
holds 23.2 per cent and entrepreneur Klaus-Michael Kuehne holds 20.8 per cent,
with smaller stakes held by financial investors.
Mr Habben
Jansen has previously said the company would like to get three or four good
quarters under its belt before floating a minority stake.
Source :
HKSG, 21.07.15.
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