The Mediterranean Shipping Company (MSC) shipping group has
Published yesterday the voluntary tender offer for
buy the German terminal operator Hamburger Hafen und Logistik AG
(
of
13
September 2023), a project that was announced last year
month and which - MSC specified yesterday - has obtained the approval of the
of the German system regulator
Federal Financial Supervisory Authority (BaFin).
The Swiss shipping group recalled that the offer,
based on a price of €16.75 per Class A share of
HHLA, following the binding memorandum of understanding between the city
and MSC on the basis of which the parties agreed to
manage HHLA, upon completion of the transaction, as a joint
ventures in which the Hamburg administration will hold at least the
50.1% of the capital and MSC up to 49.9%
(
of 13
September 2023). The period of acceptance of the offer
will end at midnight on 20 November and the
shareholders who have not accepted the offer by that date
However, they will be able to accept it within two weeks of publication
of the bidder's bidding results.
Announcing the launch of the offer, the MSC Group confirmed
investments in the joint venture already announced, and
the commitment to bring additional containerized traffic to the
HHLA Port Terminals. In that regard, the tender states that
in 2025 ships will bring minimal traffic to HHLA's terminals
of 375 thousand TEUs if the transaction is completed
by 31 December 2024, or a volume of 375 thousand TEUs
on a pro-rata basis if the completion of the transaction
It will take place during 2025, and then rise to 500 thousand TEUs
per year from 2026 to 2027 and then to 750 thousand TEUs per year
from 2028 to 2030 to reach one million TEUs from
2031. In addition, MSC reiterated that the acquisition will not result in
no change for current HHLA employees.
MSC announced that it had already acquired 4.69% as of yesterday
of HHLA's outstanding Class A shares and which, including the
Class A and S shares owned by the City of
Hamburg, joint venture partners now control more
75% of HHLA's share capital.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
