Hapag-Lloyd acquires 49% stake in Spinelli Group

News 15 Sep 2022 by WCN Editorial

The German container liner shipping company will acquire a 49% stake in the Genoa-based port operator and logistic services company from existing shareholders, while Spinelli family will continue to hold the majority stake of 51%

𝕏

The parties have agreed to not disclose any financial details of the deal. In effect, Hapag-Lloyd has bought the 45% stake in Gruppo Spinelli acquired by Icon Infrastructure in 2015, plus another 4% from the Spinelli family. The completion of the transaction is subject to regulatory approvals, which are expected within the next few months.

Spinelli Group has a presence throughout the container logistics chain, from port terminal services, through multimodal transport (Centro Servizi Derna), devanning and warehousing to customs agent activities. Its key container handling operation is Genoa Port Terminal, which has a throughput of around 500,000 TEU a year; Hapag-Lloyd is a key customer. Through Terminal Rebora Srl, Spinelli also provides container depots and repairs, container sales, etc. Furthermore, since 2018 Gruppo Spinelli has held 30% of Salerno Container Terminal.

Hapag-Lloyd has made no secret of its strategy to invest in port terminals.