European Union merger regulators have granted approval to MSC Mediterranean Shipping Company for two acquisitions aimed at expanding its logistics operations. The European Commission has concluded that the acquisitions of a stake in HHLA, a Hamburg-based container terminal operator and port services provider, and Clasquin, a French international freight forwarder and logistics company, will not raise competition concerns.
For the acquisition in Hamburg, the Commission's decision was influenced by the competitive landscape in Northern Europe, where several major ports operate. In the case of Clasquin, the Commission found its market impact to be minimal due to its niche positioning. These approvals allow MSC to proceed with its plans to purchase 49.9 percent of HHLA shares, alongside a capital infusion, while retaining the City of Hamburg as the majority shareholder with 50.1 percent. MSC has also committed to a 40-year management contract, aiming to increase container traffic through Hamburg and establish a German headquarters in the city.
Despite opposition from political factions and the German trade union Ver.di, which cited job concerns and foreign control over the port, the Hamburg City Parliament approved MSC's acquisition. The EU's clearance represents the final regulatory hurdle, though no timeline for completion has been announced. MSC has also initiated a tender to acquire additional HHLA shares, currently holding about 22 percent.
The Clasquin acquisition is set to be finalized on October 9 by MSC's subsidiary, Shipping Agencies Services, following the sale of a 42 percent stake by Clasquin's senior executives. A tender for the remaining shares will subsequently be launched, integrating Clasquin into MSC's larger logistics operations with a focus on various international markets.
Source: The Maritime Executive