Senator Leonhard: MSC/HHLA result an important step

Partnership - Senator Leonhard: MSC/HHLA result an important step

Hamburg's Senator for Economic Affairs Melanie Leonhard (SPD) has seen the result of the takeover bid by shipping company MSC for port logistics provider HHLA as an important step on the way to a strategic partnership. "The world's largest shipping company is making a firm and long-term commitment to the Port of Hamburg - the integration into another global network will bring additional throughput and also make a contribution to the port's development," said Leonhard on Tuesday. "Today's result takes us an important step further along this path."

MSC and the City of Hamburg now own 92.3 percent of the Hamburg port logistics company HHLA, as MSC announced in a mandatory announcement following the final expiry of the takeover bid to HHLA shareholders. This means that the city and MSC now hold a total of 69.43 million HHLA shares.

Leonhard pointed out that, in the view of the Hamburg Senate, this is an interim step on the way to the planned reorganization of HHLA. "Further steps are now pending, including approval by the antitrust authorities, which we expect to be granted without complications due to extensive legal examination in advance, as well as referral to the Hamburg Parliament, probably from the beginning of next year."

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1. The takeover bid by MSC for HHLA could potentially lead to significant changes in Hamburg's Shipping and Traffic, as the Port of Hamburg will be integrated into a larger global network.
2. Melanie Leonhard, the Senator for Economic Affairs in Hamburg, expressed her view that the takeover bid by MSC is an important step towards establishing a long-term strategic Partnership between MSC and HHLA.
3. The city of Hamburg and MSC currently hold 92.3% of the shares in HHLA, following the final expiry of the takeover bid, marking a significant takeover in the Shipping industry of Germany.
4. Leonhard also pointed out that the current situation is an interim step, and further steps, such as approval from the antitrust authorities and referral to the Hamburg Parliament, are necessary for the planned reorganization of HHLA.
5. The integration of HHLA into MSC's global network is expected to bring additional throughput to the Port of Hamburg, contributing to its overall development and advancement in the field of Transportation.
6. The takeover bid by MSC for HHLA has received widespread attention in Germany's financial and political circles, with the SPD expressing their support for the partnership.
7. The financial implications of the takeover bid for HHLA and its shareholders, as well as the potential impact on the wider Shipping and Logistics industry in Germany, are currently topics of discussion and debate.

Source: www.stern.de