National Shipping Company of Saudi Arabia (Bahri), and Qatar’s Milaha Maritime and Logistics, among other GCC investors, have been said to show interest in buying the $200 million United Arab Chemical Carriers (UACC), which is 45 percent owned by United Arab Shipping Company (UASC), a Reuters report said citing unnamed sources.
The unit sale is essential to finalizing the 7-8 billion euro merger deal between UASC and German container shipping line Hapag Lloyd (HLAG.DE).
Last week, sources told Reuters that Hapag Lloyd was close to completing the merger after UASC shareholders agreed the terms of an outstanding debt payment.
Sources have told Reuters that if a buyer cannot be found for UACC, UASC's top shareholder Qatar and Hapag Lloyd may have to acquire the shareholding in the unit as part of the merger.
Sources say proceeds from the sale of UACC will be used to pay down existing debt that has been financed by a facility provided by Qatar National Bank (QNB).
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}