Wedoany.com Report-Dec 04, The shipping giant forms a joint venture with City of Hamburg.

MSC Group has completed the acquisition of a 49.9% stake in Hamburger Hafen und Logistik Aktiengesellschaft (HHLA), establishing a joint venture with the City of Hamburg. The Port of Hamburg Beteiligungsgesellschaft SE, a subsidiary of MSC Group, announced that all closing conditions have been met, including approvals from the Hamburg Parliament and relevant merger control authorities.

The City of Hamburg has contributed all its Class A shares in HHLA to Port of Hamburg Beteiligungsgesellschaft SE through a capital increase in kind. Upon registration of this increase, the City will hold a 50.1% stake, making it the majority shareholder, while MSC Group will own the remaining shares.

The joint venture aims to strengthen HHLA's operations and competitiveness in the global maritime industry. MSC Group plans to increase cargo throughput at HHLA's terminals to a minimum of 1,000,000 TEU per year starting from 2031. Additionally, both parties have agreed to provide 450 million euros in equity to support upcoming investments in HHLA.

HHLA is a majority owner of METRANS, leading intermodal operator in Central and Eastern Europe.

Commitments have been made to safeguard the rights of HHLA's employees and to maintain the attractiveness of the terminals for all market participants. The City of Hamburg, HHLA, and MSC Group will collaborate to finalize medium-term business and investment plans to promote HHLA's long-term competitiveness.

In addition, MSC Group announced plans to build its new German headquarters in Hamburg's HafenCity. Construction is scheduled to begin in 2026, with plans to employ approximately 700 people.