A special-purpose company formed by shareholders of Hamburgische Seefahrtsbeteiligung “Albert Ballin” GmbH & Co. KG and TUI AG will take over Hapag-Lloyd AG’s 25.1 per cent share in Container-Terminal Altenwerder (CTA) for a purchase price of 315 million euros. The plans envisage that Hapag-Lloyd will be entitled to repurchase its share as soon as the economic situation permits.
The consortium members Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH (HGV) and Signal Iduna insurances will participate in the newly formed company. TUI AG is prepared to additionally assume the outstanding sum of 72 million euros to be put up by the three remaining non-participating members of the consortium and will contribute a total of 215 million euros to the purchase of the terminal. HGV will assume 24.9 million euros of that sum in the 1st quarter of 2011, unless that sum has otherwise already been reimbursed to TUI AG by that date. HSH Nordbank, which will not acquire a stake in the special-purpose company, will contribute 15 million euros in the form of a loan.
The planned capital and financing measures which are intended to safeguard the company over the long term can now be examined in detail and implemented over the next few weeks.