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THE WEEK.(Hapag-Lloyd AG)(Neptune Orient Lines Ltd.)
NOL Reportedly Discussing Financing: Neptune Orient Lines, the Singapore-based parent of APL, reportedly hopes to raise $5 billion to $7 billion in loans to help finance an acquisition of German competitor Hapag-Lloyd. The Singapore-based company was reported by Reuters to be in talks with three Singapore banks - DBS Group, Oversea-Chinese Banking Corp. and United Overseas Bank - as well as with foreign lenders for the loan. Hapag-Lloyd's owner, TUI, has put the ship line up for sale in order to concentrate on TUI's tourism business. TUI Chief Executive Michael Frenzel is in Asia prospecting buyers. Neptune Orient has been widely touted as a suitor. It is majority-owned by Temasek Holdings, the investment arm …
