German HHLA finalized the acquisition of Italian terminal
The acquisition of the majority stake in the multifunction terminal Piattaforma Logistica Trieste (PLT) in the Italian seaport of Trieste by German terminal operator Hamburger Hafen und Logistik AG (HHLA) has been finalized.
“We’re delighted that the purchase of the majority stake has now been completed. At the contract signing in Trieste on September 28 last year, our commitment at the Adriatic port was met with great approval, especially from Italy,” stated Angela Titzrath, Chairwoman of HHLA’s Executive Board.
The acquisition of 50,01% of the shares was completed on 7 January 2021, following the approval of the Italian Council of Ministers and the fulfillment of additional formal terms of closing.
The handling facility will run under the name of HHLA PLT Italy and is scheduled to begin extended operations in February.
“Since then, a team from HHLA International has been working intensively on integrating the Trieste terminal facility into the HHLA Group…we want to expand HHLA PLT Italy to become an important southern hub within our port and intermodal network,” Titzrath added.
Maritime Business World