Public bid to purchase shares submitted

MSC sets its sights on HHLA

by Port News Editorial Staff

Today the MSC Group placed a public bid to acquire a major stake in Hamburger Hafen und Logistik AG, which is currently 69% owned by the City of Hamburg.

It was announced by the German terminal group in a press statement.

According to Alphaliner, the deal could represent a turning point for the port of Hamburg, whose cargo volumes have certainly not increased over the past decade. On the contrary, in the first half of 2023, the German port handled 3.8 mln TEUs, – 11.7% on the same period last year.

Splash247 reports that MSC has apparently signed an agreement committing itself to guaranteeing the port of Hamburg an additional one million TEUs per year through its HHLA terminals. In addition, the Italo-Swiss group has agreed to transfer its German shipping line’s headquarters from Bremen to Hamburg.

According to Reuters, under the agreement signed with HHLA, MSC would be offering 16.75 euros per share in order to own a maximum of 49.9% of the terminal operator’s shares. The remaining 50.1% would remain in the hands of HGV, a subsidiary of FHH (Free and Hanseatic City of Hamburg).

Translation by Giles Foster

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