MSC Completes Acquisition of 49.9% Stake in HHLA with Full Regulatory Approval

On November 14, Mediterranean Shipping Company (MSC) received all regulatory approvals for its acquisition of a 49.9% minority stake in HHLA, fulfilling all conditions for closing the transaction.

Back in February, the Hamburg Senate had already approved the deal. However, the acquisition sparked significant attention and criticism, leading the Hamburg Parliament to delay its vote and hold multiple public hearings. Following these hearings, a majority of the Hamburg Parliament Budget Committee members voted in favor of the transaction on June 20. The European competition authority raised no objections in early October. Additionally, since HHLA operates a container terminal in Odesa, Ukraine, the acquisition required approval from Ukrainian competition authorities, which was ultimately granted.

Next, MSC will pay HHLA shareholders €16.75 per share for Class A shares submitted during the public tender offer and traded under ISIN DE000A37FUD8, as outlined in the offer document. Payment will be made within seven banking days after MSC announces that all offer conditions have been met. In return, MSC will gain ownership of the tendered Class A shares.

MSC has committed to increasing cargo throughput at Hamburg Port by transporting 1 million TEUs (twenty-foot equivalent units) annually through its terminals starting in 2030. This acquisition is expected to help Hamburg Port return to a growth trajectory and enhance its market position in Europe and globally.

The acquisition will also strengthen MSC’s port network in Northern Europe, boosting its competitiveness in the European market and creating new business opportunities and growth potential. MSC and HHLA plan to establish a long-term partnership to drive innovation and development in port and logistics operations. Their collaboration will focus on improving port operational efficiency, reducing logistics costs, and advancing green, low-carbon initiatives, jointly building a more efficient, sustainable, and environmentally friendly port and logistics network.