Mediterranean Shipping Company (MSC) entered a binding memorandum of understanding (MoU) with the city of Hamburg to acquire a 49.9% holding stake in the port terminal, transport and logistics business of Hamburger Hafen und Logistik (HHLA) Group.

MSC's bid for a stake in HHLA is part of its strategy to expand its global presence and become a more integrated logistics provider. MSC is already a major customer of HHLA, and it believes that acquiring a stake in the company will give it more control over its supply chain and will help it improve its customer service. HHLA is a publicly traded company, and MSC's bid will need to be approved by HHLA's shareholders. MSC has already secured the support of the City of Hamburg, which owns a majority stake in HHLA. 
If MSC's bid is successful, it would be a significant development for the Port of Hamburg. MSC would become a major shareholder in HHLA, and it would likely play a significant role in the development of the port.