The planned merger between Hapag-Lloyd and United Arab Shipping Company (UASC) looks close to getting approval from the EU’s Competition Commission, according to press reports.
Authoritative sources have apparently revealed that UASC intends to withdraw from certain vessel-sharing agreements (VSAs), which the authority considered a key factor in gaining its approval.
The two companies submitted concessions to the EU on October 28, and this latest move may finally seal the deal.
The EU Commission’s decision is expected no later than November 23.