MSC Mediterranean Shipping Company has successfully completed the first phase of its proposed investment in HHLA (Hamburger Hafen und Logistik Aktiengesellschaft), operator of the port of Hamburg. The joint venture partners, MSC and the City of Hamburg, now control over 86 percent of HHLA's share capital, marking a key milestone in the acquisition. The transaction, aimed at strengthening Hamburg's competitive position in shipping and logistics, is entering a mandatory second phase, with a target closing date in the second quarter of 2024.

SOURCE: GOOGLE