Hapag-Lloyd has announced it will invest in Italy-based logistics company Spinelli Group.
The German container liner-shipping company will acquire a 49 per cent in Spinelli Group from existing shareholders, while Spinelli family will continue to hold the majority stake of 51 per cent.
The parties have agreed to not disclose any financial details of the deal.
The completion of the transaction is subject to the approval of the responsible antitrust authorities, which is expected within the next months.
Hapag-Lloyd concluded the first half of 2022 with an EBITDA of $10.9 billion, as it predicts strong results for the rest of the year amid uncertainties.
The EBIT rose to $9.9 billion, and the group profit climbed to $9.5 billion.