HAPAG-Lloyd has finalised its acquisition of a minority stake in Italy’s Spinelli Group, a terminal and transport operator.

The two companies entered into an agreement for Hapag-Lloyd to acquire a 49% stake back in September 2022. The Spinelli family continues to hold 51% of the company.

The parties have agreed to not disclose any financial details of the deal.

The Spinelli Group has operated in Italy since 1963. It provides port terminal services, multimodal transportation services and it operates container depots and warehouses and it carries out customs agent activities.

Hapag-Lloyd is the fifth-largest container line with a 1.9-million-TEU capacity, according to the latest information from analyst Alphaliner. The company operates 249 ships, about half of which (129) are chartered, and half (120) are owned.