Hapag-Lloyd, UASC finalise merger through DIFC

Dubai; Hapag-Lloyd, a German transportation company, has completed a multibillion dollar merger with United Arab Shipping Company Limited (UASC), through its base at the Dubai International Financial Centre (DIFC), the centre announced on Wednesday.

To make the merger possible, UASC was first re-domiciled to the DIFC. UASC also utilised a number of innovative Intermediate Special Purpose Vehicles (ISPVs) and Special Purpose Companies (SPCs) structures that were made available via the centre. In a statement, Arif Amiri, chief executive officer of the DIFC Authority, said: “We are pleased to welcome one of the most established and respected global shipping businesses to DIFC’s business community.”