The Port of Hamburg’s biggest operator, Hamburger Hafen und Logistik AG (HHLA), has acquired Estonia’s biggest terminal operator, Transiidikeskuse AS in the Port of Muuga (New Tallinn)
The new subsidiary will be bundled into HHLA International GmbH. The acquisition is HHLA’s second foreign port investment, after Container Terminal Odessa in the Ukraine, which HHLA has operated since 2005.
Commenting on the new acquisition, Angela Titzrath, Chairwoman of HHLA’s Executive Board, said: “Estonia is one of the fastest-growing economies in Europe and a pioneer when it comes to digitisation. We are therefore pleased to be integrating Transiidikeskuse AS, already a profitable and high-performing company, into the HHLA family.
"One of HHLA’s targets is to grow internationally. The successful conclusion of this contract shows that we are doing just that. The acquisition enables us to enter a promising regional market that offers growth potential as a result of its geographic position and its link to the ‘New Silk Road’. As Hanseatic cities, Hamburg and Tallinn share a long history, to which HHLA is now adding a new chapter. At the same time, we will continue to enhance the Port of Hamburg by investing in facilities and technology. We are a Hamburg-based company, at home in Europe and operating globally.”
Anatoli Kanajev, founder and owner of Transiidikeskuse AS and a Supervisory Board member, said: “I am glad to hand over responsibility for Transiidikeskuse AS to HHLA...which has extensive experience and expertise as a container terminal operator. This will ensure that Transiidikeskuse AS will be successful in the future and will also see sustainable development.”
Completion of the transaction is subject to various conditions precedent and is expected to occur in Q2 2018. HHLA’s Supervisory Board has already approved the acquisition.