A consortium that holds a majority stake in Hapag-Lloyd has dismissed the prospects of a €3 billion initial public offering (IPO) in the next 12 to15 months, Financial Times reports. The consortium that controls 62 percent of the container shipping lines could not gain a consensus for the IPO because of shareholder differences.
German tourism group Tui owns the remaining 38 percent. Tui can sell its stake through a trade sale, IPO or it can sell it to the consortium in January.
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