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2023 December 13   11:11

MSC and City of Hamburg secure over 92 percent of HHLA shares

Port of Hamburg Beteiligungsgesellschaft SE, a wholly owned indirect subsidiary of MSC Mediterranean Shipping Company S.A. (“MSC”),  announced the result of its voluntary public takeover offer for Hamburger Hafen und Logistik Aktiengesellschaft at the end of the additional acceptance period.

At the expiry of the additional acceptance period at 12.00 am CET and 06.00 pm EST on December 07, 2023, the takeover offer had been accepted by shareholders holding 7,325,366 HHLA Class A shares. In addition, SAS Shipping Agencies Services S.à r.l, a wholly owned subsidiary of MSC, acquired a further 9,184,558 A shares in HHLA on and outside of the stock exchange outside the offer procedure. Together with the Class A and Class S shares held by the City of Hamburg, approximately 92.30 percent of HHLA's share capital is now attributable to the joint venture partners.

According to the preliminary binding agreement concluded between the City of Hamburg and MSC, HHLA is to be managed as a joint venture following the successful completion of the transaction. The City of Hamburg will continue to hold a majority stake of 50.1 per cent. Closing of the transaction is subject to certain regulatory approvals as well as the approval by the Parliament of the Free and Hanseatic City of Hamburg, as set out in the offer document. Subject to the fulfilment of these conditions, closing of the transaction is currently expected to take place in Q2 2024.

MSC Mediterranean Shipping Company (MSC) is one of the world’s leading container shipping lines. MSC has 675 offices across 155 countries worldwide. MSC’s shipping line sails on 300 trade routes and calls at 520 ports, carrying some 22.5 million TEU (twenty-foot equivalent units) annually. The MSC Group, including its passenger businesses, employs over 200,000 people worldwide.

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