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U.S. Clears Hapag-Lloyd, CSAV Merger

(Costa Paris – WSJ)

U.S. regulators have approved the merger of German shipping company Hapag-Lloyd and Chilean peer Cia Sud Americana de Vapores (CSAV), which will create the world’s fourth-largest container line by capacity.

“The Department of Justice and the Federal Trade Commission have approved the merger,” said Hapag-Lloyd spokesman Rainer Horn. “We are still awaiting approvals from a number of other regulatory bodies.”

People involved in the deal said Chinese regulators and the European Commission, the European Union’s central anti-trust authority, are expected to approve the merger over the next two months. Read more here.