The European Commission (EC) gave its go-ahead for MSC’s purchase of 49,9 per cent of the share of German logistics company HHLA. This was the last green light necessary to seal the deal.
MSC’s intention to buy HHLA shares first surfaced in September 2023. The news caused a few controversies, with trade unions protesting against the initiative. Nevertheless, HHLA’s board approved the deal in November. The recent EC’s decision was preceded by the approvals given by the Hamburg Parliament in July and September.
Acquisitions at the core of MSC’s strategy
MSC seems on a quest to expand its presence in the European transport and logistics markets. Other than the purchase of HHLA share, the Swiss shipping giant already took over 50 per cent of the Spanish state-owned rail freight operator Renfe Mercancias. MSC also recently acquired Clasquin, a French forwarder with an extensive Eurasian rail network.
Moreover, MSC seems to have big plans in the Italian port cities of Genoa and Trieste. Here, the company became the majority shareholder of the Trieste Marine Terminal at the beginning of 2023 and more recently finalised an agreement to take over a plant formerly used by Finnish company Wärtsilä. This facility will be transformed into a rail rolling stock manufacturing plant.