The proposed sale of Germany-based Hapag-Lloyd, one of the top five shipping companies in the world, to Singapore group Neptune Orient Lines (NOL) has sparked protests from Hapag staff.
Workers in Europe, Asia and the Americas gathered to voice concerns that NOL would shut down existing sites and make large job cuts if it acquired the group, the German News Digest has reported.
Ships at the Port of Hamburg sounded sirens yesterday to show support for the protestors.
The protestors outlined that they would prefer NOL's rival bidder, a Hamburg consortium including Kuehne Holding and MM Warburg & Co, to purchase Hapag. The City of Hamburg owns a 20 per cent stake in the investment group.
TUI, Hapag-Lloyd's parent company, made its intentions to sell the group clear earlier in the year, although it said that it would not sell the ocean carrier unless its minimumvaluation of the group was matched by a bidder – thought by Germananalysts to be in the region of €4bn.
