Carriers disappointed as contract talks loom and rate hikes fail to stick
Container spot freight rates this week were virtually unchanged from last week, as planned mid-November ...
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MSC said today that it has entered “into a binding agreement to acquire a stake of approximately 50% in Italo – Nuovo Trasporto Viaggiatori S.p.A (“Italo”) from Global Infrastructure Partners (“GIP”), a leading independent infrastructure investor, through its third flagship infrastructure fund (“GIP III”) and to establish a long-term strategic partnership for Italo’s future development”.
The company added that the “other approximately 50% interest” in Italo will still be owned by GIP, which will have joint governance with MSC, and by Allianz Group entities and funds managed by Allianz Capital Partners, and other co-investors.
GIP and MSC have done business together over the years. 100% of Italo is rumoured to have been valued over €4bn.
The completion of the transaction is subject to customary conditions, including regulatory and competition clearances in relevant jurisdictions, MSC said.
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