The European Commission has given the green light to MSC Mediterranean Shipping Company, the world’s largest container shipping company, to officially enter into the ownership structure of Germany’s logistics company Hamburger Hafen und Logistik Aktiengesellschaft (HHLA).
As informed, the commission has approved, under the EU Merger Regulation, the acquisition of joint control over HHLA by SAS Shipping Agencies Services S.à.r.l. (SAS Lux) and HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement (HGV).
SAS Lux, a Luxembourg-based subsidiary of MSC, and HGV, a subsidiary and the group holding company for the commercial activities of the City of Hamburg, secured over 92% of HHLA in December 2023.
Together, the City of Hamburg and MSC want to drive the strategic development of HHLA and the entire Port of Hamburg.
As explained, the transaction relates primarily to container terminal services, port transport, and logistics. The commission concluded that the proposed concentration would not raise competition concerns, given its limited impact on competition in the markets where the companies are active.
The European Commission examined the vertical and horizontal aspects of the merger and concluded that “there was no risk of foreclosure or other competition concerns, due to the presence of sufficient competitors to ensure access to the services concerned and to the North European ports” .