CSPL signs agreement with HHLA to take 24.9% minority stake in Container Terminal Tollerort
Hamburger Hafen und Logistik AG (HHLA) and COSCO Shipping Ports Limited (CSPL) have signed the agreement for CSPL’s minority shareholding in Container Terminal Tollerort (CTT).
The agreement provides CSPL with an interest of 24.99% in HHLA’s CTT facility in Hamburg, which will now be developed into a preferred handling location for COSCO where freight flows between Asia and Europe are to be concentrated.
After first making a bid in 2021 to take a 35% stake in the terminal, German chancellor Olaf Scholz approved the CSPL’s 24.9% stake in CTT in October 2022 despite political concerns over a Chinese state-owned company an investment in national infrastructure.
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