Verdi, ZDS reach agreement after five rounds of negotiations
NewsThe German union Verdi and ZDS reached a new labour agreement for 11,500 North Sea port workers, pending a member vote.
Hapag-Lloyd will now conduct a capital increase following the merger with UASC, as announced during the lines’ merger proceedings in May
The gross proceeds are estimated at €352M (US$414M) at a subscription price of €30. The proceeds will be mainly used to reduce debt.
The capital increase is backstopped by the primary shareholders CSAV Germany Container Holding GmbH, Kuehne Maritime GmbH, Qatar Holding Germany GmbH and The Public Investment Fund of the Kingdom of Saudi Arabia. They have committed to exercise their subscription rights and to acquire new shares that are not acquired by other shareholders. The company’s share capital of €164.04M will rise by €11.72M to €175.76M.
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