Sep 14, 2023 03:59 AM

BUSINESS

Hamburg Sells 49.9% of Its Port Operator for $910 Million

By Li Rongqian and Denise Jia

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What’s new: Mediterranean Shipping Co., the world’s largest ocean transportation company, entered a binding agreement to pay 848 million euros ($910 million) for 49.9% of Hamburg port logistics company Hamburger Hafen und Logistik (HHLA), the company said.

The 16.74 euro ($17.99) per share all-cash offer is 45% higher than HHLA’s closing price Tuesday and values the port logistics company at 1.7 billion euros.

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