June 9, 2017 / 12:53 PM / a year ago

Hapag-Lloyd, UASC merger not affected by Qatar trouble - source

FRANKFURT, June 9 (Reuters) - Qatar’s row with its powerful Gulf neighbours should not scupper the just-agreed merger of German shipping company Hapag-Lloyd with sector peer United Arab Shipping Company (UASC) that is owned by six Arab states of the Gulf region, a source close to Hapag-Lloyd said.

He said there were currently no signs that the diplomatic crisis would impact the deal that the states had made last month as one party, vis-a-vis Hapag-Lloyd, bilaterally.

The source, a senior manager close to the German firm’s current owners, said there was no disagreement between the Arab shareholder parties. (Reporting by Jan Schwartz; Writing by Vera Eckert; Editing by Jonathan Saul and Harro ten Wolde)

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