Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (HSDG) with headquarters in Hamburg, Germany, and Compañía Chilena de Navegación Interoceánica S.A. (CCNI) with headquarters in Valparaiso, Chile have signed a preliminary agreement by which HSDG will acquire the container liner activities of CCNI.
This acquisition, reportedly worth around USD 160 million, is scheduled to be executed by the latest on December 31, 2014.
HSDG intends to strengthen its liner network to and from South America by integrating the CCNI liner services.
Following the transaction CCNI will continue its non-liner shipping activities including the car carrier and ship-owning business.
[mappress] Press Release, July 28, 2014