Shippers to opt for direct port calls over speed of service, predicts MSC's Soren Toft
MSC chief executive Soren Toft has predicted that global supply chains will increasingly fragment in ...
PEP: TRADING UPDATE OUTMAERSK: BOTTOM FISHING NO MOREDHL: IN THE DOCKHLAG: GREEN DEALXOM: GEOPOLITICAL RISK AND OIL REBOUND IMPACTZIM: END OF STRIKE HANGOVERCHRW: GAUGING UPSIDEBA: STRIKE RISKDSV: STAR OF THE WEEKDSV: FLAWLESS EXECUTIONKNIN: ANOTHER LOWWTC: TAKING PROFITMAERSK: HAMMERED
PEP: TRADING UPDATE OUTMAERSK: BOTTOM FISHING NO MOREDHL: IN THE DOCKHLAG: GREEN DEALXOM: GEOPOLITICAL RISK AND OIL REBOUND IMPACTZIM: END OF STRIKE HANGOVERCHRW: GAUGING UPSIDEBA: STRIKE RISKDSV: STAR OF THE WEEKDSV: FLAWLESS EXECUTIONKNIN: ANOTHER LOWWTC: TAKING PROFITMAERSK: HAMMERED
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.
Comment on this article