Hapag-Lloyd Names IPO Banks

German container shipping group Hapag-Lloyd is speeding up preparations for an initial public offering and has mandated Deutsche Bank, Goldman Sachs and Berenberg to lead the transaction, two people familiar with the matter said.

Dow Jones earlier reported that an IPO could value the group at more than 5 billion euros ($5.5 billion) and could take place as early as autumn.

Hapag Lloyd and the banks declined to comment.

Reporting by Arno Schuetze and Alexander Hübner