Hapag-Lloyd steps forward with a bid to acquire rival HMM

Posted on August 29, 2023   |  

Among the contenders, Hamburg-based Hapag-Lloyd stands out as a foreign contender expressing interest in acquiring HMM.

Hapag-Lloyd's bid gains prominence due to its membership in The Alliance, a global liner consortium that also includes HMM.

With state-backed entities selling off their majority share in HMM, the competition intensifies as conglomerates like Harim Group and SM Group express their intent to take over.

LX Holdings and Dongwon Group, prominent Korean firms with logistics interests, add to the mix of potential acquirers for HMM.

Guided by state-run banks overseeing HMM since 2016, the sale aims for completion by the year-end, promising a significant shift in the shipping industry landscape.