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CSAV reports extension of the Shareholders’ Agreement in Hapag-Lloyd until 2026

Alliance with Kühne Maritime and the City of Hamburg will extend for two more years

 

Santiago, April 21, 2022. Compañía Sud Americana de Vapores reported that it has been agreed an extension of the Shareholders’ Agreement that maintains with Kühne Maritime and HGV Hamburger Gesellschaft fur Vermogens-und Beteiligungsmanagement (City of Hamburg), which concentrates 73.6% of the ownership in Hapag-Lloyd. The initial fixed term expired by the end of 2024, and it has been agreed to extend it until December 31, 2026.

“This is a very good news, as this alliance has provided stability to the corporate governance of Hapag-Lloyd and will allow us to continue to project the good work performed until now”, commented CSAV’s CEO, Oscar Hasbún.

The agreement also contemplates that Kühne Maritime appoints an additional board member, leaving the Supervisory Board nominated by the shareholders conformed by two members of CSAV, two members of Kühne Maritime, one by the City of Hamburg and one nominated by mutual agreement by the controlling pool, who will serve as Chairman of the Supervisory Board, which are joined by one member appointed by the Qatar Investment Authority and another one appointed by The Public Investment Fund of the Kingdom of Saudi Arabia.