Hapag-Lloyd has finalised the acquisition of a minority stake in the Spinelli Group.
Approved by antitrust authorities, the deal was closed in September 2022 and sees Hapag-Lloyd take on 49 per cent of the shares in the Italian company.
The remaining 51 per cent of the shares will remain with the Spinelli family.
This acquisition is part of Hapag-Lloyd’s Strategy 2023, which aims to expand the company’s involvement in the terminal sector.
The move follows a recent agreement to acquire a stake in the terminal business of Chile-based SM SAAM, as well as previous investments in terminal operations such as JadeWeserPort in Germany, Terminal TC3 in Morocco, and Terminal 2 in Egypt, which is currently under construction.
The company has not yet disclosed the financial details of the deal.
The figure stands $8 billion above 2021’s profit for the same period.