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Hapag-Lloyd said to speed up Frankfurt IPO plans on good results

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Hapag-Lloyd AG, Germany's biggest container- shipping line, may bring forward to October plans for an initial public offering, after the company reports a profitable second- quarter, according to a person familiar with the plans.

[HAMBURG] Hapag-Lloyd AG, Germany's biggest container- shipping line, may bring forward to October plans for an initial public offering, after the company reports a profitable second- quarter, according to a person familiar with the plans.

The Hamburg-based company, which previously planned an IPO for the end of this year or in 2016, may start a road show for investors as early as next month, depending on market conditions, the person said. A company spokesman declined to comment.

Hapag-Lloyd last year merged with the container-shipping assets of Valparaiso, Chile-based CSAV to create the world's fourth-largest line with about 200 vessels, taking on industry leaders such as AP Moeller-Maersk A/S.

Chief Executive Officer Rolf Habben Jansen said in May Hapag-Lloyd needs three to five good quarters before going public. A solid second-quarter performance led the company and its three advisers Goldman Sachs Group Inc, Deutsche Bank AG and Joh Berenberg Gossler & Co. KG to revise plans, the person said.

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An October IPO, planned for the Frankfurt stock exchange, may also help tour operator TUI AG divest its remaining 14 per cent stake in the shipping company earlier than expected.

Hapag-Lloyd returned to a profit at the start of the year as lower fuel costs, efficiency gains after the merger and a stronger dollar helped offset low freight rates. The company plans to publish second-quarter results on August 26.

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