Financial News

Hamburg, 19 December 2014

Hapag-Lloyd completes capital increase

EUR 370 million of new capital / CSAV and Kühne Maritime subscribe as planned / Recently placed bond will be paid out to the company / Early redemption of existing bond due in October 2015 on 23 December

Today Hapag-Lloyd completed the planned capital increase of EUR 370 million as part of the business combination with the Chilean shipping company Compañía Sud Americana de Vapores (CSAV). As planned, CSAV subscribed to EUR 259 million and Kühne Maritime made a cash contribution of EUR 111 million. The capital increase had already been agreed upon mid-April with the signing of the contracts to combine CSAV's container business with Hapag-Lloyd. It was to be implemented by the end of 2014.

After the capital increase, the shareholders of Hapag-Lloyd AG hold the following stakes: CSAV with 34%, HGV (City of Hamburg) 23.2%, Kühne Maritime 20.8%, TUI 13.9%, Signal Iduna 3.3%, HSH Nordbank 1.8%, M.M.Warburg & CO 1.8% (including two private investors) and HanseMerkur 1.1%. CSAV, HGV and Kühne Maritime have agreed to pool 51% of the shares in Hapag-Lloyd in order to discuss and make key decisions together in the future.

Beside the Closing on 2 December, the capital increase was a requirement for releasing the bond with a volume of EUR 250 million that had already been placed successfully on 20 November. The proceeds from the bond with a maturity of five years will be used for the early redemption of the Hapag-Lloyd Euro bond due in October 2015. The redemption will take place on 23 December.