Hapag-Lloyd bids expected this week, Widdows says chance of sale at 50%v

Hapag-Lloyd bids expected this week, Widdows says chance of sale at 50%v

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   Neptune Orient Lines Chief Executive Officer Ron Widdows told a German newspaper that his company would definitely make a bid for German carrier Hapag-Lloyd by Friday, according to a Reuters report over the weekend.

Widdows

   The German paper Welt am Sonntag reported Sunday that the NOL chief put the chances of Hapag-Lloyd's parent company TUI selling the carrier at 50 percent.
   German press reported that the other bidder, a consortium of Hamburg-based investors who want to ensure that Hapag-Lloyd stays in German hands, also plans to submit its bid over the next few days.

Kuehne

   The manager of the consortium, Klaus-Michael Kuehne, head of logistics giant Kuehne + Nagel, told the newspaper that the consortium secured financing for a “relatively high, strategic price.' A decision on the sale is expected in the next two weeks.
   Reports have indicated that TUI is looking for close to $6 billion for its container-shipping unit.