MSC gets the green light to press ahead with Hamburg port entry

All closing conditions of the voluntary public takeover offer have been fulfilled for Mediterranean Shipping Co’s (MSC) entry into Hamburg port.

MSC will now pay the offer price of €16.75 per class A share to the shareholders of Hamburger Hafen und Logistik Aktiengesellschaft (HHLA).

Closing of the transaction whereby MSC, the world’s largest containerline, will hold a 49.9% stake in HHLA, the city’s top port operator, is now anticipated in the next few days. 

MSC has outlined plans to add an annual extra 1m teu to Hamburg in the coming seven years. A new German headquarters is to be built in Hafencity, and the cruise division, MSC Cruises, is also to have a new home port here with the number of employees in the city doubling to around 700.