Hapag-Lloyd delays AGM as merger talks with UASC near hopeful end

GERMAN shipping giant Hapag-Lloyd's board has delayed the company's annual general meeting on June 1 until August as merger talks with Kuwait's United Arab Shipping Company appear to come to an hopeful end.

Talks between Hapag-Lloyd and UASC regarding a "potential combination of their container shipping activities would in the case of a successful finalisation require amendments to the agenda", said Hapag Lloyd.

"Those amendments could not have been reflected in the agenda of the Annual General Meeting on June 1 due to company law specifications and deadlines," the company said.

Thus, the AGM will take place in August at the latest. The executive board will announce it, including the agenda, in the German Federal Gazette (Bundesanzeiger) in due course.