HHLA: MSC and Hamburg own less than 95% of shares in port operator

Hamburger Hafen und Logistik AG

13/06/2024 13:18

FRANKFURT, June 13 (Reuters) - MSC and the city of
Hamburg have not yet secured 95% of shares in port operator
Hamburger Hafen (HHLA)  HHFGn.DE , HHLA CEO Angela Titzrath said
on Thursday, as the investor's bid to squeeze out other
shareholders in the German port operator hits snags.
    MSC said in December that the Swiss-based shipping giant and
the city of Hamburg  FREIE.UL  could together be allocated
around 92.3% of shares in HHLA following the expiry of a second
acceptance period.
    The executive board of HHLA pushed for progress on the deal
for MSC to buy almost half of the port operator at its annual
general meeting, but opposition in the local parliament has
caused delays.

 (Reporting by Elke Ahlswede, Writing by Rachel More
Editing by Ludwig Burger
)
 ((rachel.more@thomsonreuters.com;))