BRUSSELS (Reuters) - EU antitrust regulators are set to clear German container shipping line Hapag-Lloyd's (DE:HLAG) merger with United Arab Shipping Company (UASC) after the latter agreed to withdraw from some vessel sharing agreements, two people familiar with the matter said on Tuesday.
The combined company, valued at about 7 to 8 billion euros ($7.5-$8.6 billion), would be the world's fifth largest shipping company.
The shipping companies offered the concessions last month in a bid to fend of the European Commission's concerns but did not provide details. Kuwait-based UASC is owned by Gulf Arab states with Qatar holding a majority stake.
Commission spokesman Ricardo Cardoso declined to comment.
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