Hamburg's CDU remains critical of the city's HHLA/MSC deal

Takeover - Hamburg's CDU remains critical of the city's HHLA/MSC deal

Hamburg's CDU has reiterated its criticism of the cooperation between the city and the shipping company MSC in the port logistics company HHLA. "The red-green port deal is still completely non-transparent," said Götze Wiese, economic policy spokesman for the largest opposition faction in the parliament, on Tuesday. "The crucial question remains: is the deal good for the city? The answer is still: no."

All major reservations remain, said Wiese. These include the question of why the city is selling its strategic HHLA stake "at such an absurdly low value" and why there was no invitation to tender. "How could an issue that is so important for Hamburg become a secret commando matter in the back room?" criticized Wiese. "Why is MSC not simply being offered a stake in the terminal, as was done with Hapag-Lloyd, for example?"

The city of Hamburg and the world's largest shipping company want to run HHLA as a joint venture in which the city holds a majority of 50.1 percent. Following the expiry of an MSC takeover bid to HHLA shareholders, both partners hold around 92.3 percent of the Hamburg-based company.

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1. Despite the CDU's criticism, the shipping company MSC and the city of Hamburg are proceeding with their joint venture in HHLA, with the city holding a majority stake of 50.1%.
2. The Finances of the deal have come under scrutiny, with the CDU questioning why the city is selling its stake at a seemingly low value and why there was no invitation to tender.
3. The traffic in and out of the port, which is a crucial part of Hamburg's transportation infrastructure, could be affected by the changes in ownership and management at HHLA.
4. In the context of Germany's political landscape, the CDU, a major German political party, has voiced its concerns about the takeover, highlighting the potential impact on Hamburg's port and its economy.
5. The shipping industry as a whole, including companies like HHLA and MSC, will be closely watching the developments in Hamburg, as a successful joint venture could set a precedent for future collaborations in the sector.

Source: www.stern.de