MSC gets all regulatory green lights for HHLA acquisition

November 18, 2024, by Naida Hakirevic Prevljak

Swiss MSC Mediterranean Shipping Company, the world’s largest container shipping company, has received all regulatory approvals to participate in the ownership structure of Germany’s logistics provider Hamburger Hafen und Logistik Aktiengesellschaft (HHLA).

As of November 14, 2024, all closing conditions for the voluntary public takeover offer of Port of Hamburg Beteiligungsgesellschaft SE (bidder), a wholly owned subsidiary of MSC, have been fulfilled.

After the European Commission granted merger control clearance at the beginning of October 2024, the last outstanding closing condition has now been met with merger control clearance in Ukraine.

In the next step, the subsidiary of the Swiss major will, as per the offer document, pay the offer price of €16.75 per class A share to the HHLA shareholders who had tendered their shares in the public takeover offer. The payment will be made within seven banking days. In return, the MSC obtains ownership of the class A shares tendered.

To remind, SAS Lux, a Luxembourg-based subsidiary of MSC, and HGV, a subsidiary and the group holding company for the commercial activities of the City of Hamburg, secured over 92% of HHLA in December 2023. Together, the City of Hamburg and MSC aim to drive the strategic development of HHLA and the entire Port of Hamburg.

The transaction relates primarily to container terminal services, port transport, and logistics.

HHLA is one of the terminal operators in the Port of Hamburg. With a network of seaport terminals in Hamburg, Odessa, Tallinn and Trieste, hinterland connections for road and rail and interlinked intermodal hubs in Central and Eastern Europe, HHLA is the logistics and digital hub.