(Updates to add comments from interview with Hamburger Abendblatt)
FRANKFURT (Thomson Financial) - Kuehne & Nagel chairman Michael Kuehne said
he may take a stake of up to 25 percent in a consortium of bidders for TUI AG.'s
Hapag-Lloyd that is seeking to keep the company out of foreign investors' hands,
according to an interview in Der Spiegel's online edition.
"But I want as many people as possible to participate (in the consortium),
and any partner is welcome," Kuehne said.
"My stake would then decline."
According to previous reports, the consortium also includes MM Warburg
co-owner Christian Olearius and former Hamburg city finance senator Wolfgang
Peiner. Kuehne declined to name other parties.
TUI earlier this year said it has decided to divest Hapag-Lloyd, either
through a sale to an investor, a merger with a rival or a spin-off. The company
has since said it would prefer to selling the unit.
Temasek's Neptune Orient Lines reportedly also plans to submit a bid for the
unit, which is seen costing between 3.5 billion euros and 6 billion euros.
Bids must be submitted by July 21, Kuehne said.
"Our interest is that our business partner Hapag-Lloyd is not absorbed by
another company because we need competition in the freight business," Kuehne
said, who plans to put up funds from his private holdings for the bid.
Separately, Kuehne told Hamburger Abendblatt in an interview preparations
for his consortium's bid are "underway".
He said banks, insurers and businessmen are part of the consortium, without
naming any parties. He also did not say how many parties are in the consortium,
but said a group of up to 10 investors "makes sense".
maria.sheahan@thomsonreuters.com
mas/slm/mas/slm
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