Switzerland-based shipping giant MSC has committed to a volume amount of more than 1 million twenty-foot equivalent units (TEU) as part of a takeover offer for Germany’s HHLA HHFGn.DE, CEO Soren Toft said on Wednesday.

Speaking at a press conference organised by Hamburg’s city government, Toft said the takeover offer for the logistics company that runs Germany’s largest port in Hamburg would result in a “long-term cooperation with no end date”.

He added that the number of Hamburg-based MSC jobs would be doubled to more than 700.
Source: Reuters (Reporting by Friederike Heine, Editing by Miranda Murray)