MSC’s investment in Hamburger Hafen und Logistik AG (HHLA) is complete: All closing conditions for the voluntary public takeover offer have been fulfilled.
After the European Commission had given its approval at the beginning of October, only the approval in Ukraine was still pending. MSC now holds 49.9% of the company.
As announced by HHLA, the company led by Gianluigi Aponte, which will be represented in Hamburg by its subsidiary Port of Hamburg Beteiligungsgesellschaft, will pay €16.75 per share to each shareholder. Previously, the city owned 70% of the shares, with the remainder in free float.
MSC wants to increase HHLA throughput to 1 million TEU
The new joint venture between the world’s largest shipping company and the City of Hamburg is intended to significantly increase container volumes at the HHLA terminals; an annual minimum volume of 1 million TEU is planned from 2031. Furthermore, a port headquarters for the company is to be established in HafenCity.
The entry of the Geneva-based shipping company was controversial beforehand. HHLA’s works council and the Verdi trade union had repeatedly spoken out against the deal, fearing job losses. The Senate only approved the acquisition in a second session in September after the opposition blocked the final decision before the summer break.
