United Arab Shipping (UASC) shareholders have voted unanimously to approve a proposed merger with Hapag-Lloyd.
All six of UASC’s shareholding states approved the merger during an extraordinary general meeting (EGM) held UASC’s corporate office in Dubai.
Once regulatory approvals are received, the integration of some activities are expected to begin. However, both companies will still continue to operate in their current alliances until the end of March 2017.
Hapag Lloyd’s supervisory board has already approved the merger, but the company’s shareholders will not meet until August to discuss the deal.