Practically nothing stands in the way of the controversial entry of the world’s largest shipping company MSC into the Hamburg port logistics company HHLA. Now the EU Commission has also given the green light.
The EU Commission has approved the controversial entry of the world’s largest shipping company MSC into the Hamburg port logistics company HHLA. “The Commission concluded that the proposed transaction does not raise competition concerns given its limited impact on competition in the markets in which the companies operate,” the Commission said.
There is no risk of foreclosure or other competition concerns as there are enough competitors to ensure access to the services in question and to northern European ports. The transaction was examined as part of the normal merger control procedure. The “Hamburger Morgenpost” had previously reported.
Citizens approved it at the beginning of September
This means that nothing stands in the way of the deal. The Hamburg citizenship finally approved the MSC entry at the beginning of September. Hamburg’s red-green Senate wants to bring the shipping company Mediterranean Shipping Company (MSC) on board in order to stabilize Hamburger Hafen und Logistik AG (HHLA) and container handling. The city should hold 50.1 percent and MSC 49.9 percent in the company. So far, around 70 percent has belonged to the city, the rest was in free float.
In return, MSC wants to increase its cargo volume at the HHLA terminals from next year and almost double it to one million standard containers per year by 2031. In addition, the Swiss shipping company wants to build a new German headquarters in Hamburg and, together with the city, increase HHLA’s equity capital by 450 million euros.
Hamburg’s Senator for Economic Affairs Melanie Leonhard (SPD) welcomed the decision. “Following approval from the European Commission and the approval of the Hamburg citizenship, two important milestones have been reached for the realization of the strategic partnership for the further development of Hamburger Hafen und Logistik AG with the Mediterranean Shipping Company. The Senate therefore sees itself on the right path for the future of the port,” said Leonhard.
If the Ukrainian authorities now also agree – HHLA operates a container terminal in Odessa – according to the economic authority, all implementation conditions have been met. Then the closing will be implemented.
The Verdi union and dock workers are strictly against the deal
The Verdi union and dock workers are strictly against the deal. From Verdi’s point of view, jobs are not only at risk at HHLA, but also at other port companies such as the entire port operation and the Lasch operations. In addition, MSC actually receives extensive veto rights through the deal. Experts had also warned against the deal in expert hearings and spoke, among other things, of a “historical mistake”.
Source: Stern
