Containers are seen at a terminal in the port of Hamburg, Germany November 14, 2019.
Under a deal between MSC and the city of Hamburg, MSC will make a cash offer of 16.75 euros ($17.99) per share to acquire all listed class A stock in HHLA.
The city of Hamburg, which owns 69% of HHLA's A shares and all of its unlisted S-shares, would retain control of Hamburg port with a 50.1% stake via the S-shares.
A source familiar with the deal gave an enterprise value of 2.6 billion euros, including 1.4 billion euros in debt.
HHLA said its management board would review the MSC offer.
Persons:
Fabian Bimmer, Klaus, Michael Kuehne, Lloyd, Kuehne, Marc Zeck, Stifel, Nikolas Mauder, Kepler Cheuvreux, HHLA, Andrey Sychev, Sabine Wollrab, Rachel More, Emelia Sithole, David Holmes
Organizations:
REUTERS, Kuehne, Reuters, MSC, Thomson
Locations:
Hamburg, Germany, BERLIN, Hapag, HHLA, Germany's, Gdansk, Frankfurt