Vapores shareholders approve capital increase

Vapores shareholders approve capital increase

Equity M&A

Shareholders in Compania Sud Americana de Vapores have agreed a $400m capital raise for the company to merge with Germany’s Hapag-Lloyd. Most of the cash is earmarked for CSAV to increase its ownership of Hapag-Lloyd by 4 points, to 34%. The board is to determine the share price for the deal. If the company falls short of the $400m targeted, it has said it will look at other options, including debt, to make up the remainder. The approval paves the way for a second capital raise this year at the

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