HHLA Wraps Up Acquisition of Estonian Terminal Operator
Germany’s Hamburger Hafen und Logistik AG (HHLA) has completed the acquisition of Estonia’s largest terminal operator, Transiidikeskuse AS (TK).
Back in March 2018, HHLA signed the contract with Kantauro OÜ to acquire 100% of TK shares, in line with its strategy of regional diversification. Three months later, on June 27, HHLA assumed full responsibility for the terminal operator.
During a visit to the Estonian capital of Tallinn, Angela Titzrath, Chairwoman of HHLA’s Executive Board, commented: “We’re delighted that the takeover has now been completed. This will allow us to successfully advance the ongoing integration of TK into the HHLA Group. We see great potential in the Port of Muuga, as well as in the entire regional market (…) The takeover of TK is a first successful step in the implementation of our strategy.”
HHLA Executive Board discussed during her visit to Tallinn the next steps of the integration with those responsible at TK. She said that Muuga offered a great deal of potential as a European port and that HHLA wanted to lead the facility further 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. Transiidikeskuse AS operates a container and multipurpose terminal for breakbulk, bulk and RoRo cargo.