The container shipping company MSC wants to join the port operator HHLA.
(Photo: dpa)
Dusseldorf The Swiss shipping company MSC wants to join the Hamburg port operator HHLA. HHLA announced on Wednesday that MSC’s voluntary takeover offer provides for the payment of 16.75 euros in cash per class A share.
According to its own information, MSC has reached a binding agreement with the Hanseatic City of Hamburg as the largest shareholder, which regulates the conditions of the takeover offer and the common intentions at HHLA. If MSC holds 100 percent of the A shares after completion of the takeover offer and the contribution, Hamburg will hold 50.1 percent and MSC will hold 49.9 percent of the share capital.
On Tuesday, HHLA shares closed at 11.54 euros. The market value was therefore around 840 million euros. According to data from LSEG, the Hanseatic City of Hamburg is by far the largest shareholder and holds 69.25 percent of HHLA.