Port of Hamburg Beteiligungsgesellschaft SE, a subsidiary of the MSC Group, today announced the successful completion of its voluntary public tender offer for the shares of Hamburger Hafen und Logistik Aktiengesellschaft (“HHLA”, ISIN: DE000A0S8488) and the establishment of the joint venture with the City of Hamburg with respect to HHLA. All closing conditions have been fulfilled, including approval by the Hamburg Parliament and merger control approvals by the relevant merger control authorities. Today, the City of Hamburg has contributed all its Class A shares in HHLA to Port of Hamburg Beteiligungsgesellschaft SE by way of a capital increase in kind and will become its majority shareholder upon registration of the capital increase, reports MSC.
“Together with MSC, we want to lead HHLA into the future and develop it further. Partnerships and networks pay off, is what we learn from the developments in global maritime industry. Germany’s largest seaport will benefit significantly from the investments in infrastructure and improvements in automation and digitalisation at HHLA’s terminals. As a result, all of HHLA’s customers will benefit from this partnership. At the same time, we are strengthening the company’s future viability and thus the long-term prospects of its employees”, says Hamburg’s Senator Dr Melanie Leonhard, Minister of Economy and Innovation.
Joint venture
Going forward, HHLA will be operated as a strategic joint venture, with the City of Hamburg holding a stake of 50.1% while the remaining 49.9% is held by the MSC Group. Both, the City of Hamburg and the MSC Group are committed to driving forward the strategic development of HHLA and the Port of Hamburg.
To further underline its commitment to Hamburg, the MSC Group has also announced that it will build its new German headquarters in Hamburg’s HafenCity with plans to employ approximately 700 people. Construction is scheduled to begin in 2026.
Did you Subscribe to our daily newsletter?
It’s Free Click here to Subscribe!
Source: MSC
