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| Port of Hamburg |
:by
MSC's takeover of nearly half of Hamburg's port operator, Hamburg Haven & Logistics AG (HHLA), still faces major challenges before receiving government approval as a political faction remains looking to stall the approval.
While supporters hope that the agreement will be approved before July 10, in the last session of Parliament before the summer recess,...
Under the takeover plan proposed in September 2023, MSC will acquire 49 percent of HHLA. Proponents of the deal cite MSC's strong commitment to increasing its volume at the port while pointing out that Hamburg faces intense competition and is losing market share in containers.
Critics had hoped to derail the approval process last week by pushing for a public hearing on the issue.
A parliamentary committee held a hearing on Thursday and the presentations lasted for about six and a half hours. There were 35 speakers, most of them port workers, trade unionists, activists and environmental groups. There were also dock workers protesting outside the building.
At the end of the hearing, the Parliament Committee approved the deal. Opponents had hoped the general meeting requirement would delay the vote. Previously, the Economic Committee and the Public Enterprises Committee also approved the sale of HHLA.
Final approval now goes to the full Hamburg Parliament. As a city-state, Hamburg has a parliament with over 120 representatives elected by citizens as well as a Senate. The Senate supports the agreement, but the political faction of the Alternative for Germany party put up a last-minute barrier to its approval, calling for a general referendum.
