Singapore container shipping giant Neptune Orient Lines (NOL) has shot down reports that it was seeking to acquire shares in Hapag-Lloyd.
The denial was issued after reports came out that NOL was in negotiations with its shipping competitor for a stake in the German-based box line.
“NOL wishes to state that currently, it is not making another bid for a stake in Hapag-Lloyd,” the ocean carrier said in a stock market filing.
Earlier, there were various reports that NOL had entered into talks anew with Hapag-Lloyd about another attempt at a buyout. In 2008, NOL tried to purchase a stake in Hapag-Lloyd, but the deal did not push through when the two parties failed to agree on the sale price.
Hapag-Lloyd is operated by a group of investors from Hamburg, and TUI, a tourism company that wants to sell its share in the carrier to concentrate on its core business.
Photo by Alan Miles
