According to MANA, Maersk, part of A.P. Moller-Maersk, announced the bid last December, part of a wave of mergers in an industry struggling with a glut of ships and slowing global trade which has forced at least one shipping line out of business.
The proposed acquisition will strengthen the Danish company's presence in global trade, in particular in Latin America where Hamburg Sud has been long established.
World No. 7 Hamburg Sud is part of the Oetker Group and owns 130 container vessels, primarily used in trade between the northern and southern hemispheres, versus Maersk's fleet of more than 600 ships.