Gianluigi Aponte
Gianluigi Aponte’s MSC has filed a takeover bid for Norway’s Oslo-listed Gram Carriers.
The bid already has the support of the company’s main shareholders, which operates in the car carrier and marine car transport sector.
Mediterranean Shipping Company offered to buy GCC for 7.6 billion Norwegian kroner ($700 million), equivalent to 263.69 kroner per share.
GCC’s board of directors unanimously decided to recommend that shareholders accept the offer.
MSC’s aim is to expand the group’s presence in the maritime car transport market at a time when the sector is seeing increased exports from Chinese manufacturers.
“This purchase, the MSC-GCC joint statement points out, presents business elements familiar to the MSC Group, which already has two car carriers, each with a capacity of 6,700 car equivalent units (CEU), and regularly transports on its ships with containers, a significant volume of containerized cars)’ and adds: ‘GCC, with its current fleet of 18 privately owned car carriers and its management and operational expertise, will be of great value to MSC in the future. At the same time, the transaction will enable GCC and its customers to benefit from MSC’s global logistics experience and footprint.”
The board received the submission from Abg Sundal Collier, which concludes that the offer price is economically fair.
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