MSC is continuing its expansion strategy in the logistics business, indirectly responding blow-by-blow to competitors Maersk and CMA CGM, who have made vertical and horizontal integration one of their strengths.
The latest news is that negotiations between the Italian-Swiss carrier and the French shipping company Clasquin are taking place for the acquisition of 42% of the shares held by chairman Yves Revol and the Lyon-based private equity firm Olymp.
The big carrier made its move through its subsidiary Shipping Agencies Services (SAS), submitting a non-binding offer. The sale price of the stake will be determined on the basis of an enterprise value of €325 million.
Upon successful completion of the acquisition of the stake held by Yves Revol and Olymp, SAS will make a public tender bid to acquire Clasquin’s remaining shares. Clasquin is listed on the Euronext Growth stock exchange.
In the first nine months of the year, Clasquin reported a turnover of €417 million, 40.4% less compared to the same period last year. From January to September the company handled 196,697 TEUs, a year-on-year decrease of 1.9%, and 51,804 tonnes of air cargo air (+2.2%).
Translation by Giles Foster
