Port of Hamburg Beteiligungsgesellschaft SE, a subsidiary of the MSC Group, has announced the successful completion of its voluntary public tender offer for shares in Hamburger Hafen und Logistik Aktiengesellschaft (HHLA). It marks the establishment of a strategic joint venture between the company and the City of Hamburg regarding HHLA.
All the required conditions for closing the transaction have been met, including the approval of the Hamburg Parliament and relevant merger control authorities.
Søren Toft, CEO of MSC, commented: “We want to play our part in pushing the gateway to the world further open – for the benefit of HHLA, the workforce, the people of Hamburg and everyone else connected to this historic port. We will deliver on our side of the agreement. Together with the City, we will invest in growth, technology and infrastructure to strengthen HHLA’s competitiveness. We will bring cargo to Hamburg, and we will fully protect the rights of the workforce. That is our plan for Hamburg.”
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 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.
As an important pillar of their binding agreements, the City of Hamburg and the MSC Group have also made far-reaching commitments to HHLA’s employees to safeguard their rights and have agreed to keep the HHLA terminals attractive for all market participants. 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.
(Dreamstime photo of Port of Hamburg)
