Brief: HHLA Says Executive Board And Supervisory Board Recommend To Accept Offer By MSC

Hamburger Hafen und Logistik AG

06/11/2023 14:08

Nov 6 (Reuters) - Hamburger Hafen und Logistik AG
 HHFGn.DE :
    * AS A RESULT, EXECUTIVE BOARD AND SUPERVISORY BOARD
CONSIDER
OFFER PRICE OF EUR 16.75 PER CLASS A SHARE TO BE ADEQUATE
    * CITY OF HAMBURG AND MSC WILL SUPPORT CORRESPONDING
INVESTMENT
PLANS TOTALLING AT LEAST EUR 775 MILLION IN YEARS 2025 TO 2028
    * ACCEPTANCE PERIOD FOR OFFER COMMENCED WITH PUBLICATION OF
OFFER
DOCUMENT ON 23 OCTOBER 2023 AND ENDS ON 20 NOVEMBER 2023 AT
24:00 HRS (CET)
    * EXECUTIVE BOARD AND SUPERVISORY BOARD RECOMMEND TO ACCEPT
OFFER
BY MSC IN JOINT REASONED STATEMENT
    * SUBJECT TO APPROVAL OF HAMBURG PARLIAMENT, CITY OF HAMBURG
AND
MSC WILL PROVIDE HHLA WITH ADDITIONAL EQUITY CAPITAL TOTALLING
EUR 450 MILLION FOR INVESTMENTS IN BUSINESS OPERATIONS OVER NEXT
FEW YEARS FOLLOWING CLOSING OF TRANSACTION
    * ULTIMATELY, AN UNDERSTANDING WAS REACHED ON CONTINUATION
OF
HHLA'S EXISTING STRATEGY
    * WILL THUS REMAIN A EUROPEAN LOGISTICS COMPANY
    * PLANNED SUSTAINABLE REORGANISATION OF CONTAINER SEGMENT
AND
EXPANSION OF EUROPEAN INTERMODAL NETWORK, IN PARTICULAR WITH
REGARD TO METRANS, WILL BE DRIVEN FORWARD WITH A FOCUS ON
HAMBURG

Further company coverage:  HHFGn.DE 
    

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