Switzerland-based container shipping major Mediterranean Shipping Company (MSC) has acquired a minority stake in Italian shipping company Ignazio Messina & C.
Specifically, MSC and Messina have reached a final agreement two years after they signed a memorandum of understanding (MOU). The deal includes both shipowning and terminal activities.
MSC, through its subsidiary Marinvest, is taking over a 49% share of Messina, the Genoese company confirmed in a statement.
As informed, the closure of the transaction is subject to the final authorization by the Italian Antitrust Authority and the Port Authority of Genoa.
Ignazio Messina & C. provides regular line services that connect the Mediterranean to Africa, the Middle East, and the Indian subcontinent, reaching more than 50 ports and supplying over 40 different countries. The company has a fleet of 21 vessels with a total capacity of 40,200 TEU and 62,500 line meters. It directly owns eight RoRo ships and a number of leased container vessels.
Controlled by the Aponte family, MSC operates a fleet of 510 vessels calling at 500 ports and carrying some 21 million TEU annually.
Related: MSC Eyeing Stake in Ignazio Messina