Maersk Line Selling Subsidiary For Hamburg Süd
A.P. Moller-Maersk has agreed to sell off Mercosul Line, its Brazillian carrier subsidiary, in order to clear Maersk Line's takeover of Hamburg Süd with the Brazilian competition authorities.
Hamburg Süd's ownership of Aliança Navegaçao, its East Coast South America (ECSA) cabotage and feeder subsidiary, would have given Maersk Line an 80% share of trade to Brazil as Maersk's Mercosul currently has a 21% share and Aliança 59%.
Potential buyers of the Brazilian flagship carrier, which owns four ships — each with a 2,500 TEU capacity, include CMA CGM, Mediterranean Shipping Company, Hapag-Lloyd, NYK Line and Cosco China Shipping.
Maersk will still have an 18.5% share of global trade after the sale and a 59% share of trade to Brazil.
An official statement from Maersk Line said: “With the purpose of securing the Brazilian competition authorities’ (CADE) swift approval of the Hamburg Süd acquisition, it has been decided to divest Mercosul Line from A.P. Moller–Maersk.
“The divestment will ensure that the cabotage sector in Brazil remains competitive and that customers can benefit from a comprehensive choice of carriers”