Exclusive: Financing hitches could delay Hapag Lloyd, UASC shipping tie-up - sources

LONDON/FRANKFURT (Reuters) - A merger of German container shipping line Hapag-Lloyd and United Arab Shipping Company (UASC) is likely to take months to complete, partly due to financing issues blamed on a deep industry downturn, sources familiar with the deal say. Hapag-Lloyd signed a binding agreement with UASC in July to form the world's fifth-largest line, valued at about 7 to 8 billion euros ($7.2-$8.3 billion), by the end of 2016. Global container shipping is suffering its worst downturn ca