Port of Hamburg Beteiligungsgesellschaft SE, company
MSC, Inc.
successful completion of its voluntary public offering of
purchase of shares in terminal company Hamburger Hafen
und Logistik Aktiengesellschaft (HHLA) in Hamburg and the creation
of the joint venture with the city of Hamburg
(
of
4
September 2024). Today, the city of Hamburg, through the
HGV, transferred all of its Class A shares in HHLA to Port of
Hamburg Beteiligungsgesellschaft SE by means of a capital increase
in kind and will become the majority shareholder after the
registration of the capital increase, of which it will hold the
50.1% against 49.9% for the MSC group.
MSC recalled that the agreement includes its commitment to
significantly increase the volume of goods handled in the
HHLA terminal bringing it to a minimum of one million TEUs per year
by 2031. In addition, the city of Hamburg and MSC have
agreed to provide €450 million in equity capital for
support the necessary investments in HHLA. Another element
of binding agreements is the commitment of the city of
Hamburg and the shipowners' group to safeguard the rights of
HHLA employees and to keep HHLA's terminals attractive to
all market participants.
MSC recalled that, to further underline its
commitment to Hamburg, the group recently announced that
will build its new German headquarters in HafenCity in
Hamburg, with plans to employ around 700 people
(
of 19
January 2024). The start of construction work is
scheduled for 2026.
Commenting on the transaction, the CEO of the
Mediterranean Shipping Company, Søren Toft, highlighted
that the MSC Group will respect its part of the agreement:
"Together with the city," he specified, "we will invest
growth, technology and infrastructure for
strengthen HHLA's competitiveness. We will bring goods to
Hamburg and we will fully protect workers' rights. That's
our plan for Hamburg."
"Together with MSC - said the senator from Hamburg
Melanie Leonhard, Minister for Economic Affairs and Innovation -
we want to lead HHLA into the future and develop it further.
Partnerships and networks are beneficial, as we learn
developments in the global maritime industry. Most
Germany's large port will benefit significantly
infrastructure investments and improvements
in the automation and digitalization of HHLA's terminals. Of
As a result, all HHLA customers will benefit from this
cooperation. At the same time, we are strengthening the
future sustainability of the company and the long-term prospects
term for its employees".