Swiss-Italian liner MSC received approval from the State of Hamburg to begin the process of acquiring shares in Hamburg Port’s leading port operator, reported German newspaper Handelsblatt.

This approval allows MSC to publish its offer to buy shares in Hamburger Hafen und Logistik (HHLA). If the shareholders of the port operator agree to the carrier’s offer, the company will welcome a new co-owner, says the newspaper.

Earlier in September, MSC announced its intention to acquire nearly half of HHLA. In response, the operator welcomed this intention and described the potential partnership as a “strategic participation in HHLA.”

The partnership between the two parties would take place under an investor agreement. A statement issued by HHLA highlighted that “the City of Hamburg will remain the majority shareholder."

"It intends to manage the company jointly with MSC and thus develop HHLA further. To this end, the City of Hamburg intends to hold a 50.1% stake, and MSC a stake of up to 49.9%.”

While industry analysts believe the partnership has great potential to boost business at the Port of Hamburg, the news faced backlash from the German public.

According to a report by Maritime Executive, around 2,500 people – including HHLA employees - took to the streets on 19 September in Hamburg to protest the potential sale.

The protestors demanded that the port operator remain in the hands of the city. Political leaders have also questioned the acquisition deal and raised concerns that it would create more competition to the disadvantage of other German ports.