Posted on December 2, 2024
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 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.
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. To this end, the MSC Group will significantly increase cargo throughput at HHLA’s terminals to a minimum volume of 1,000,000 TEU per year from 2031. In addition, the City of Hamburg and the MSC Group have agreed to provide 450 million euros in equity to support the forthcoming necessary investments in HHLA.
In a next step, the City of Hamburg, HHLA and the MSC Group will jointly finalize the medium-term business and investment plans for HHLA in order to promote its long-term competitiveness. 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.
MSC Mediterranean Shipping Company (MSC) is a global leader in transportation and logistics, privately owned and founded in 1970 by Gianluigi Aponte. As one of the world’s leading container shipping lines, MSC has 675 offices across 155 countries worldwide. The company has evolved from a one vessel operation into a globally respected business with a fleet of 850 vessels that provides timely delivery of goods and services to customers of all industries and sizes. The MSC Group’s activities now include overland transportation, logistics and a growing portfolio of port terminal operations. MSC’s shipping line sails on 300 trade routes and calls at 520 ports, carrying some 24.5 million TEU (twenty-foot equivalent units) annually. The MSC Group, including its passenger businesses, employs 200,000 people worldwide.
