MSC subsidiary takes final regulatory hurdle for HHLA takeover

Hamburger Hafen und Logistik AG

15/11/2024 12:15

Nov 15 (Reuters) - HHLA  HHFGn.DE  said on Friday that a
subsidiary of Swiss-based MSC had received all regulatory
approvals for a voluntary public takeover offer of the German
port operator.
    Merger control clearance had been granted by Ukraine, it
said, where HHLA operates a terminal in the Black Sea harbour of
Odessa, after the European Commission granted clearance of the
takeover at the beginning of October.
    HHLA said MSC - the world's biggest container shipping
company - will pay 16.75 euros ($17.72) per A share to
shareholders who tendered their shares in the voluntary public
takeover offer.
    Last year, MSC offered to buy almost half of the main
operator of Hamburg port, with the city of Hamburg, which owns
69% of HHLA's A shares and all of its unlisted S-shares,
retaining control with a 50.1% stake via the S-shares.

($1 = 0.9454 euros)

 (Reporting by Bernadette Hogg, Editing by Friederike Heine)
 ((Bernadette.Hogg@thomsonreuters.com;))