Germany-based Hamburger Hafen und Logistik (HHLA) has agreed to acquire Transiidikeskuse, which operates a multipurpose terminal for breakbulk, bulk and RoRo handling in Estonia.
Once the transaction is closed, the acquired entity, located at the Port of Muuga, will operate as a subsidiary, which will be allocated contractually and organisationally to HHLA International.
HHLA executive board chairwoman Angela Titzrath 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 – already a profitable and high-performing company – into the HHLA family.
“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.”
The Port of Muuga is the main port in Estonia and a significant maritime location in the Baltic region.
At present, the container terminal operated by Transiidikeskuse is capable of handling about 300,000 twenty-foot equivalent units (TEUs), which can be increased to approximately 800,000 TEUs.
The transaction, which has already been approved by HHLA’s supervisory board, is scheduled to be completed during the second quarter of this year, subject to various conditions.