Hamburger Hafen und Logistik Aktiengesellschaft (HHLA AG) will remain under the control of the city of Hamburg, with the new major shareholder – the world’s largest container shipping company Mediterranean Shipping Company (MSC) – becoming a strategic partner in the development of the company. Following approvals from the Hamburg parliament, the European Commission and the Ukrainian antitrust authority, all conditions for completing the transaction have been met and it will be completed by the end of 2024.
MSC acquired the shares through an open market tender and will also receive some of the shares previously owned by Hamburg. The city will retain approximately 69% of the shares in HHLA AG, increasing its stake from 50.1%. As with Hamburg Airport, the company will remain under municipal control, but with the support of a private partner, which will ensure the further development and modernization of the port.
This partnership, as well as MSC’s significant investment in modernising the port infrastructure, including almost half a billion euros, will help put the Port of Hamburg back on a growth path and strengthen its position as an important logistics hub in Europe. MSC plans to increase cargo handling volumes at HHLA’s terminals in Hamburg and make the port a key element of its global network from 2025.