City and MSC aim to oust HHLA minority shareholders - Hamburg and MSC Force Out HHLA’s Minority Shareholders After Securing 95% Control
The city of Hamburg and shipping giant MSC have taken steps to remove remaining minority shareholders from HHLA. Together, they now control over 95 percent of the company’s shares. This move follows MSC’s initial investment in the port operator last November.
Hamburg and MSC formed a joint venture, Port of Hamburg Beteiligungsgesellschaft, to manage their combined stake. Under German law, holding more than 95 percent allows them to force out the remaining investors. The exclusion will begin after approval at HHLA’s annual general meeting and formal registration.
The joint venture will compensate minority shareholders with cash, based on an independent company valuation. A court-appointed auditor must confirm the fairness of the proposed sum before payments proceed. MSC’s share in the venture is capped at 49.9 percent, while Hamburg retains a 50.1 percent majority. MSC first acquired a stake in HHLA in November 2024. Since then, the partnership has steadily increased its control over the port operator. The exact compensation amount and finalisation date remain undisclosed.
The squeeze-out process will complete once the annual general meeting approves the resolution and the commercial register updates its records. Minority shareholders will receive cash payments determined by the joint venture’s valuation. The deal solidifies Hamburg and MSC’s dominance over HHLA’s operations.
