COPENHAGEN: The container shipping unit of Danish conglomerate A.P. Moller-Maersk said on Thursday it had agreed to buy German peer Hamburg Sud, as the industry consolidates amid a downturn.
“The acquisition of Hamburg Sud is in line with our growth strategy and will increase the volumes of both Maersk Line and APM Terminals,” the chief executive of Maersk Line and the Maersk Group, Soren Skou, said in a statement.
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