Hapag-Lloyd announced that the Conselho Administrativo de Defesa Econômica (CADE), Brazil’s market regulating body, has granted its planned integration with the container shipping activities of Compañía Sud Americana de Vapores (CSAV) unconditional clearance under Brazilian merger regulations.
Hapag-Lloyd and CSAV signed a binding business combination agreement in April, 2014. Its implementation was subject to the approval of regulatory authorities. Among others, the Department of Justice of the US, the EU and Chile have already cleared the planned transaction. Approval from other jurisdictions is still pending.
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