Hapag-Lloyd still short of cash

摘要

The Albert Ballin consortium and TUI have agreed to inject more liquidity into cash-strapped Hapag-Lloyd in proportion to their respective shareholdings. The decision was taken on August 13, but no amount was specified.rnAccording to earlier statements a further EUR420 (USD592) million is required, following the sale in August of Hapag-Lloyd's 25.1% stake in Hamburg's Container Terminal Altenwerder to the City of Hamburg and Signal Iduna, both members of the Albert Ballin consortium which currently owns 56.7% of Hapag-Lloyd, and TUI, which owns the remaining 43.3%, for EUR330 (USD465) million.