German container liner Hapag-Lloyd on Thursday announced it has completed its acquisition of a minority stake in Italy-based logistics company the Spinelli Group as global shipping firms continue to expand their port presence amid prolonged supply chain disruption.
The deal was first announced in September but remained subject to the approval of antitrust authorities.
With today’s closing, Hapag-Lloyd has acquired a 49% stake in one of Italy’s leading terminal and transport operators. The Spinelli family will continue to hold the majority stake of 51%.
Financial details of the sale were not disclosed.
Hapag-Lloyd is among a number of the world's largest container shipping companies, including Denmark's A.P. Moller Maersk and France's CMA CGM, that have been acquiring terminals and other land-based ports and logistics assets to help protect against supply chain crunches
Most recently, Hapag-Lloyd agreed to acquire a 100% stake in the terminal business of Chile-based SM SAAM for $1 billion. The company also has stakes in JadeWeserPort in Wilhelmshaven, the Container Terminal Altenwerder in Hamburg, Terminal TC3 in Tangier, and Terminal 2 in Damietta, Egypt, which is currently under construction.