MSC Completes Acquisition of Stake in Hamburg Port

The Port of Hamburg at sundown
Corporate News Shipping Ports & Logistics Europe
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All conditions for the voluntary public takeover offer have been met for Mediterranean Shipping Co’s (MSC) investment in the Hamburg port.

MSC will now proceed with paying €16.75 per class A share to the shareholders of Hamburger Hafen und Logistik Aktiengesellschaft (HHLA).

The deal, which grants MSC a 49.9% ownership stake in HHLA, Hamburg’s leading port operator, is expected to be finalized within the next few days.

MSC has announced plans to increase Hamburg’s annual container throughput by an additional 1 million TEU over the next seven years.

The company will also establish a new German headquarters in Hafencity. Additionally, MSC Cruises is set to make Hamburg its new home port, with the local workforce expected to double, reaching about 700 employees.