Estonia, EU – Baltic States, Legislation, Mergers and take-overs, Port, Transport

"We are delighted that the takeover has now been completed. This will allow us to successfully advance the ongoing integration of Transiidikeskuse AS into the HHLA Group. We see great potential in the port of Muuga, as well as in the entire regional market, and we are determined to make the most of it with the help of Transiidikeskuse's highly motivated workforce," Angela Titzrath, chair of the executive board of HHLA, said in a press release.

"The takeover of Transiidikeskuse AS is a first successful step in the implementation of our strategy. Hamburg and Tallinn share a long history as Hanseatic cities. We wish to revive this spirit, not least to generate growth in our core market," Titzrath added.

"I am confident that such a well-established and experienced operator as HHLA will have a lot to contribute to the further innovation and growth of Transiidikeskuse AS. I am also certain that Transiidikeskuse AS will continue providing highest quality services to its clients, now as part of an international group," Anatoli Kanajev, former owner and current member of the supervisory board of Transiidikeskuse AS, said.

The HHLA's executive board discussed the next steps of the integration with those responsible at Transiidikeskuse AS. The former CEO of Transiidikeskuse AS, Vladimir Popov, and the CFO, Helena Hakkinen, will continue to be responsible for the company's successful development.

Angela Titzrath met with Estonia's Minister of Economic Affairs and Infrastructure Kadri Simson during her visit to Tallinn. Simson welcomed HHLA's commitment to the port of Muuga, saying that it made the site stronger and supported the government's efforts to attract European investors to the country.

Titzrath reported on the positive response of numerous HHLA customers to the takeover. She said that Muuga offered a great deal of potential as an European port, and that with their expertise in terminal operation, HHLA wanted to lead the facility further into a successful future as part of a logistics network.

The port of Muuga is the main port in Estonia and an important maritime location in the Baltic region. The company newly acquired by HHLA is the clear market leader in container handling in the Baltic country and also operates a multipurpose terminal for break bulk, bulk and RoRo handling. The location is developing into a multimodal hub as a result of regional infrastructural projects, such as the Rail Baltica project. With the purchase of Transiidikeskuse AS, HHLA is expanding its regional diversification.

Hamburger Hafen und Logistik AG (HHLA) is an European port transport logistics company. The company has a network of container terminals in Hamburg and Odessa and with connections inland, HHLA is forming a digital logistics center on the New Silk Road. The company's business model is based on innovative technologies and is dedicated to sustainability.