Hapag-Lloyd is a German transportation company comprising a cargo container shipping line, Hapag-Lloyd AG, which in turn owned other subsidiaries such as Hapag-Lloyd Cruises. Hapag-Lloyd AG is the worlds fifth largest container carrier in terms of vessel capacity. The company was formed in 1970 as a merger of two 19th-century companies, Hapag, which dated from 1847, and Norddeutscher Lloyd (NDL) or North German Lloyd (NGL), which was formed in 1856. Hapag-Lloyd was acquired in 1998 by TUI AG (Hanover) and became its fully owned subsidiary in 2002. In 2009, TUI sold a majority stake to a group of private investors and the City of Hamburg, the so-called Albert Ballin Consortium. The main founders of Hapag and Lloyd in the 19th century were Berenberg Bank, Fritz Albert Haas, and H. J. Merck & Co.. In February 2012 the German company TUI sold more shares of the German owned company Hapag-Lloyd to the City of Hamburg which is the largest share holder with approx. 37% followed by Kuehne Maritime with 28% and TUI AG with 22%. The other shareholders are Hamburg based banks and insurances. In 2013 Hapag-Lloyd and CSAV started merger talks which ended in Hapag-Lloyd taking over the container business of Chiles CSAV in December 2014. In exchange for contributing its container business CSAV received 30% of the shares in the enlarged Hapag-Lloyd company. After a capital increase by CSAV and Kühne Maritime in December 2014 the actual owners of Hapag-Lloyd are CSAV (34%), the City of Hamburg (23.2%), Kühne Maritime (20.8%), TUI (13.9%), Signal Iduna (3.3%), HSH Nordbank (1.8%), an investor pool led by the Hamburg-based private bank M.M.Warburg & CO (1.8%) and HanseMerkur (1.1%). The integration of the CSAV container business into Hapag-Lloyd was concluded in 2015 making Hapag-Lloyd one of the market leaders in the Latin American markets besides its already existing leading position on the North Atlantic.