Hamburger Hafen und Logistik AG has announced acquiring Estonia’s biggest terminal operator Transiidikeskuse AS. The contract was signed on March, 26.
According to HHLA, the new subsidiary will be allocated contractually and organisationally to HHLA International GmbH. The deal will make HHLA the market leader in container handling at the Port of Muuga, located close to the Estonian capital of Tallinn.
The container terminal currently has a high utilisation of its capacity of approximately 300 thousand, TEU which can be increased to around 800 thousand TEU. HHLA expects to leverage synergies by further professionalising sales and operations and integrating the port operator into the HHLA network.
Completion of the transaction is subject to various conditions precedent and is expected to occur in the second quarter of 2018. HHLA’s Supervisory Board has already approved the acquisition.
Anatoly Kanaev, founder and owner of Transiidikeskuse AS, will be part of the Transiidikeskuse Supervisory Board.