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The die is cast for MSC’s involvement in HHLA in the port of Hamburg as the sea shipping giant aims to buy 49.9 per cent of the company’s stakes. The move has already been approved by the city of Hamburg, which currently holds the majority shares of HHLA. However, it still needs regulatory approval concerning competition law and the approval of Hamburg’s federal state parliament.
According to the offer, MSC is willing to pay 16.75 euros per share. The company’s investment will be at a holding level. Hapag-Lloyd and Cosco’s existing minority interests in some individual HHLA terminals would not be affected by the deal.
HHLA expects that MSC’s participation in the company would bring significant benefits in terms of freight volumes, which, as the parties involved pointed out, could reach one additional million TEUs per year. Read more
Source: RAILFREIGHT.COM
