Hamburger Hafen und Logistik (HHLA) has acquired Estonian terminal operator Transiidikeskuse, located close to the port of Muuga, near Tallinn.
Transiidikeskuse is a container freight and multipurpose cargo terminal operator, which handles a range of cargoes including breakbulk and ro-ro. Muuga has developed into a key port in the Baltic region - a result of significant infrastructural developments, such as the Rail Baltica project.
Angela Titzrath, chairwoman of HHLA's executive board, said that Estonia is one of the fastest growing economies in Europe and that one of HHLA's targets is to grow internationally. "The acquisition enables us to enter a promising regional market that offers growth potential as a result of its geographic position and its link to the 'New Silk Road'."
The deal is expected to be completed in the second quarter of 2018; Transiidikeskuse will become a subsidiary of HHLA International. Transiidikeskuse's owner and founder, Anatoli Kanajev, will join the supervisory board.