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Hapag-Lloyd asks for loan

Hapag-Lloyd asks for loan
Ailing shipper Hapag-Lloyd [HPLG.UL] has applied for 1.2 billion euros ($1.7 billion) in German state loan guarantees.

Ailing shipper Hapag-Lloyd [HPLG.UL] has applied for 1.2 billion euros ($1.7 billion) in German state loan guarantees.

Ailing shipper Hapag-Lloyd [HPLG.UL] has applied for 1.2 billion euros ($1.7 billion) in German state loan guarantees, a government official who declined to be named said on Sunday.

It was unclear when a decision would be made on the request for state aid. Hapag-Lloyd is owned by TUI AG (TUIGn.DE) and Albert Ballin. A spokesman from TUI reached by telephone said he had no new comment on the application. Hapag-Lloyd and Albert Ballin were not immediately available to comment.

On Friday a spokesman for regional lender HSH Nordbank [HSH.UL] said the bank had filed the application for Hapag-Lloyd.

www.TurkishMaritime.com.tr

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