With moves afoot to publicly list German container shipping line Hapag-Lloyd as an independent company, holding company TUI AG has released a statement concerning the carrier's future.
A statement from the TUI board that it has "decided to prepare a separation of container shipping from the group. All options, including a spin-off, merger or divestment as a single entity are going to be examined."
Such a sale was predicted by the Hong Kong Shipping Gazette's, analytical publication, The Container Shipping Manager, in its September-October issue.
"The stock market is signaling that investors believe that Hapag Lloyd will be sold," said CSM chairman and founder Laurence Scofield in his regular "Review and Outlook" analysis.
"Hapag Lloyd's parent, TUI AG, is a holding company," he wrote. "In addition to Hapag Lloyd, it owns 51 per cent of London-listed TUI Travel, a tour operator, which is a separate entity with its own management team based in the UK and has no synergy with the shipping company.
"Why would the shareholders be willing to pay more for the holding company's shares than what the individual businesses are worth. The best reason is that they think the company, which TUI directors have so often in the past talked about selling, will finally wind up on the block," wrote Mr Scofield, adding: "Therefore, it follows logically, that Hapag Lloyd will probably be sold."
The situation has fuelled speculation over which company will invest in the ocean-going box carrier. The rumour is that Singapore's NOL group is planning to either acquire Hapag-Lloyd or seek a merger.
Another player coming in the spotlight is Kuehne + Nagel. The Swiss forwarding and logistics group is reported to be leading a consortium to buy the shipping line. It will be facing competition from German private bank MM Warburg, which confirmed its senior management are also considering a bid for Hapag-Lloyd.
Then there are the German newspapers that claim that politicians in Hamburg, where Hapag-Lloyd is based. They are urging investors to merge Hapag-Lloyd with fellow container carrier Hamburg Sud. This is intended to keep at least one major shipping line based in Hamburg.
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