Kühne Ups Stake in Hapag-Lloyd

Hapag-Lloyd Private investment firm Kühne Holding AG has increased its stake in German liner company Hapag-Lloyd to more than 17 percent. As informed, Klaus-Michael Kühnes company already held a 14.1 percent share in Hapag-Lloyd through Kühne Maritime, after its merger with the United Arab Shipping Company (UASC). Kühne said it used the opportunity which was offered by the withdrawal of travel and tourism company TUI Group from the container shipping sector to further invest in Hapag-Lloyd. Earlier this month, TUI informed it decided to sell its stake in Hapag-Lloyd. Karl Gernandt, Executive Chairman der Kühne Holding AG, said that the consolidation in the shipping industry offers Hapag-Loyd new perspectives for a further rise and improves the companys position among other big container carriers. Gernandt added that Kühne Holding AG sees itself as a long-term investor. Hapag-Lloyd told World Maritime News that the shareholder structure is now as follows: Hapag-Lloyd are CSAV (22.6%), Kühne (17.6%), the City of Hamburg (14.9%), Qatar Investment Authority (14.4%), the Public Investment Fund on behalf of the Kingdom of Saudi Arabia (10.1%). In addition, there is a free float of 20.4% percentages have been rounded and the free float includes institutional shareholders with a shareholding of less than 5%. World Maritime News Staff