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Hapag-Lloyd buys 49% stake in Italian Logistics Group

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HAMBURG : The German container shipping company Hapag-Lloyd, which has so far held on to its strategy to focus on shipping activities, has struck a deal to take over close to half of Italian Logistics Group Spinelli. So far, Hapag-Lloyd Chief Executive Rolf Habben Jansen has held on to the German container line’s strategy of focusing on its core business, sailing containers from A to B.

The Hamburg-based box carrier has announced this new investment after a strong financial half of the year with reported EBITDA of €10 billion, EBIT of €9.1 billion and profits of €8.7 billion.

Spinelli family will continue to hold the majority stake of 51% at Spinelli Group, which recently ordered new equipment for its container terminal in Genoa, Italy. The two parties have agreed to not disclose any financial information about the deal.

The completion of the transaction is subject to the approval of the responsible antitrust authorities, which is expected within the next months.

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