The City of Hamburg and MSC Mediterranean Shipping Company have entered into a binding Memorandum of Understanding (MoU) with respect to a strategic partnership regarding Hamburger Hafen und Logistik Aktiengesellschaft (HHLA).
n particular, MSC intends to acquire all free-floating A-Shares of HHLA and announces the intention to launch a voluntary public takeover offer at EUR 16,75 per A-Share (57% premium to 30-day volume weighted average price). HHLA is to be operated as a strategic joint venture, with the City of Hamburg holding a stake of 50.1% and MSC ultimately holding a stake of 49.9%.
This deal not only expands MSC’s global reach, but also unlocks the trade potential for the City of Hamburg and Germany. As a family-owned company we are fully accountable to our employees, customers and partners.
… commented Soren Toft, CEO of MSC Mediterranean Shipping Company
The aim of the partnership is to establish a strong and well-funded basis for the further development of HHLA and the entire Port of Hamburg, making it a central hub for MSC’s globally connected network of container services and logistics chains.
The strategic partnership between the City of Hamburg and one of the world’s leading shipping companies, MSC, is a milestone in the further development of our port. It reflects MSC’s strong commitment to the Port of Hamburg.
… said Dr Peter Tschentscher, First Mayor of the Free and Hanseatic City of Hamburg
MSC will substantially increase its container volume at HHLA terminals in Hamburg, beginning in 2025 and raising it to at least 1,000,000 TEU per year from 2031 onwards.
In addition, MSC will establish its new German headquarters with several hundred employees in Hamburg. Furthermore, MSC and the City of Hamburg also agree to commit on a long-term investment plan to be developed in alignment with HHLA.
By leveraging MSC’s expertise in maritime logistics, we aim to drive forward the digitalization and the transformation of logistics in the Port of Hamburg, ensuring prosperity and job security.
… stated Dr Melanie Leonhard, Senator of Economy, City of Hamburg
MSC has been investing heavily in developing its portfolio of intermodal solutions, including rail which spans from Sines (Portugal) to Trieste (Italy), and has been working to shift more cargo from road to rail in line with its shoreside decarbonization aims.
Dr Andreas Dressel, Senator of Finance, City of Hamburg, explained that Hamburg continues to retain the majority of the shares and be HHLA’s major shareholder via the holding company of the Free and Hanseatic City of Hamburg. At the same time, they are increasing strategic impact and steering capabilities together with MSC by running the joint-venture as a company directly governed by its two shareholders.