Hamburg investor group bids for Hapag-Lloyd

Hamburg investor group bids for Hapag-Lloyd A Hamburg-based group investors has reportedly submitted a binding offer to acquire container carrier Hapag-Lloyd from TUI AG, the German tourism company.
   Reuters quoted Christian Olearius, a partner at the investment bank M.M. Warburg as saying that the bid had been made Friday by a consortium of German investors that also includes Klaus-Michael Kuehne, who is also head of Swiss logistics company Kuehne & Nagel, the city of Hamburg, the bank HSH Nordbank, and the the insurance companies Signal Iduna and Hanse Merkur.
   NOL, the parent company of container carrier APL had also submitted a preliminary bid for Hapag-Lloyd and had said in August that it was continuing into the next phase of the bidding process.
   In August, TUI said “completion of the bidding process is expected for the autumn at the earliest” and Reuters quoted a TUI spokesman as saying the company would probably make a decision in the middle of October on the proposed sale.