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MSC announces voluntary public takeover offer for HHLA

Posted on October 30, 2023 |

Port of Hamburg Beteiligungsgesellschaft SE, an MSC subsidiary, released an official document regarding a public takeover offer for Hamburger Hafen und Logistik Aktiengesellschaft (HHLA).

The document's publication was authorized by the German Federal Financial Supervisory Authority.

MSC's strategy involves acquiring all available HHLA Class A shares through this offer.

The offer also covers HHLA Class S Shares, which are owned by the City of Hamburg and encompass specific real estate assets.

However, the City of Hamburg will not be offering these shares due to an agreement.

This move follows a previously announced Memorandum of Understanding (MoU) between the City of Hamburg and MSC, outlining their collaborative plans for operating HHLA as a joint venture following the successful completion of the transaction.

In this joint venture, the City of Hamburg is slated to have at least a 50.1% stake, with MSC holding up to 49.9%.

Holders of HHLA Class A Shares can choose to accept the offer and sell their shares for EUR16.75 ($17.73) each, a substantial premium compared to recent share prices.

Importantly, the offer does not require a specific minimum acceptance rate.

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