Hapag-Lloyd, CSAV tie-up wins EU's conditional approval

[BRUSSELS] Hapag-Lloyd and Compania Sud Americana de Vapores (CSAV) secured conditional European Union (EU) approval on Thursday for their tie-up to create the world's fourth-largest container shipping company.

The merger is important for the shipping industry which hopes more deals could help it to overcome the worst slump on record.

And if regulators take a soft line on any concessions required to allow the deal to proceed, this could spur more consolidation in the industry.