Neptune Orient Lines confirms interest in Hapag-Lloyd

Singapore’s Neptune Orient Lines has finally submitted a concrete and formal offer for German shipper Hapag-Lloyd after six months of talks. Media reports suggest that the proposed deal values Hapag-Lloyd at around $7bn and it will come as little surprise that the three Singaporean banks — DBS, United Overseas Bank and OCBC — are close to the financing. But read EuroWeek this week to find out which other banks are competing for a leading position on the transaction, which could challenge for the size record from an Asian borrower.