COSCO SHIPPING Ports Limited (SEHK:1199) entered into the Share Purchase Agreement to acquire 35% stake in HHLA Container Terminal Tollerort GmbH from Hamburger Hafen und Logistik Aktiengesellschaft (XTRA:HHFA) on September 21, 2021. As per the transaction, COSCO SHIPPING Ports Limited will pay the consideration for the sale of the sale shares of €65 million and the consideration for the sale of the closing shareholder loan in an amount equal to the nominal amount of the Closing Shareholder Loan and interest charged on €34,238,860.89, being 35% of the amount owed to Hamburger Hafen und Logistik Aktiengesellschaft by HHLA Container Terminal Tollerort GmbH. As on December 31, 2020, HHLA Container Terminal Tollerort GmbH generated net profits of €7.4 million and net assets of €21.4 million.

The transaction is subject to competition and regulatory approval and is approved by Hamburger Hafen und Logistik Aktiengesellschaft's supervisory board. Helge Schäfer, Jonas Wittgens, Stefan Witte, Jonas Labinsky, Jan-Benedikt Fischer and Börries Ahrens of Allen & Overy LLP (Hamburg), Udo Olgemöller and Thomas Dieker of Allen & Overy LLP, Jonathan Hsui of Allen & Overy Hong Kong and Director Jing Li & Eva Jiang of Allen & Overy LLP acted as legal advisors to Hamburger Hafen und Logistik Aktiengesellschaft.