The shipowning group Mediterranean Shipping Company (MSC) continues its strategy of vertical integration ahead also from other primary containerized maritime carriers global, a market in which the Swiss group is a world leader, having submitted an offer to acquire the terminalista group German Hamburger Hafen und Logistik AG (HHLA). The latter is Germany's leading port terminal operator together to his compatriot Eurogate, with whom he had started in 2020 negotiations to forge cooperation, which according to several Observers could also have resulted in a merger of the activities, negotiations that broke down halfway of last year ( of 29 May 2020 and 1 July 2022).

The voluntary takeover bid was presented today by MSC through the company in full subsidiary Port of Hamburg Beteiligungsgesellschaft SE and is a cash takeover bid which provides for the payment of 16.75 euros for each HHLA Class A share. In addition, MSC has signed a binding agreement with the Hamburg City Government, which owns 69% of HHLA's Class A shares (A-shares are listed on the stock exchange and are relevant to the activities port and logistics of the company, while the class S shares do not are listed and relate to the real estate activities of the group). The agreement that defines the essential parameters and terms of the takeover bid and the mutual intentions of the parties towards the terminal group.

In particular, the agreement provides that HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH, a wholly-owned subsidiary of the city-state of Hamburg, upon completion of the tender offer transfers its shares Class A at the Port of Hamburg Beteiligungsgesellschaft SE of the MSC group as a capital increase, acquiring in exchange shares of the bidder. The agreement also provides that, after the completion of the takeover bid, where the offeror holds 100% of the Class A shares, HGV owns 50.1% of the bidder's share capital and MSC on remaining 49.9%. If upon completion of the tender offer the bidder will hold less than 100% of Class A shares, shareholding ratios with respect to the bidder will be aligned in such a way that HGV indirectly holds 50.1% of Class A shares.