TUI chief in Asia — looking for Hapag suitors?
The chief executive of Hapag-Lloyd parent company TUI is on a barnstorming tour of Asia to gauge potential buyers of the German ocean carrier, according to a report Monday from Reuters.
TUI head Michael Frenzel is making stops in Singapore, Hong Kong and Tokyo this week, with the report suggesting that NOL (parent of APL), OOCL and NYK are mulling bids for Hapag-Lloyd, said to be worth more than $5 billion.
TUI shareholders are apparently intent on forcing through a sale of TUI container shipping division, though the rumored bidders have been silent on the topic. The article also suggested that China Shipping may be weighing a bid — though in a meeting with American Shipper Tuesday in Shanghai, an official from the Chinese carrier said nothing about being interested in Hapag-Lloyd when asked about possible carrier consolidation this year.
Also on the radar are South Korea’s STX Pan Ocean and Hyundai Merchant Marine, according to the report.
TUI chief in Asia — looking for Hapag suitors?
