MSC Finalizes Its Investment in Hamburg Port
1 month ago
MSC Finalizes Its Investment in Hamburg Port
Port of Hamburg Beteiligungsgesellschaft SE, a subsidiary of the MSC Group, has successfully completed its voluntary public tender offer for shares in Hamburger Hafen und Logistik Aktiengesellschaft (HHLA). This marks a key milestone in the formation of a strategic joint venture between MSC and the City of Hamburg concerning HHLA. With all necessary conditions for the transaction's closure now met, including approval from the Hamburg Parliament and relevant merger control authorities, the deal is officially sealed.
Søren Toft, CEO of MSC, emphasized the company’s commitment to enhancing the Port of Hamburg’s role as a global trade hub. "We aim to further open the gateway to the world—for the benefit of HHLA, its workforce, the people of Hamburg, and all those connected to this historic port. We will honor our side of the agreement, investing alongside the City in growth, technology, and infrastructure to bolster HHLA’s competitiveness. We’ll bring more cargo to Hamburg and ensure full protection of the workforce's rights—that’s our plan for Hamburg."
Following the registration of the capital increase, the City of Hamburg will hold a majority stake of 50.1%, while the MSC Group will own 49.9%. Both partners are dedicated to driving HHLA’s strategic growth and the continued development of the Port of Hamburg.
As part of the agreement, the MSC Group has committed to increasing cargo throughput at HHLA terminals to a minimum of 1 million TEUs annually starting in 2031. Furthermore, the City of Hamburg and MSC will jointly invest US$475 million in equity to support HHLA’s future development.
A key element of the partnership is the strong commitment to safeguarding the rights of HHLA employees and ensuring the terminals remain competitive in the market. The next phase will focus on finalizing medium-term business and investment plans to strengthen HHLA’s long-term competitiveness.
Additionally, MSC has announced plans to establish its new German headquarters in Hamburg's HafenCity, with construction slated to begin in 2026. The new offices are expected to employ around 700 people.
Source: Container News