Global container shipping firm Mediterranean Shipping (MSC) acquired a majority stake in Brazilian maritime agency Wilson Sons in a deal valued at R4.4bn ($773mn).
MSC will pay R17.5 ($3.067)/share for its acquisition of 56.47pc of shares in the maritime agency, Wilson Sons said on 21 October.
Wilson Sons' shareholder Ocean Wilsons Holdings sold its shares to MSC subsidiary SAS Shipping Agencies Services Sàrl.
Closing of the deal is subject to approval from antitrust watchdog Cade and national water transport agency Antaq. The agreement is expected to be finalized in the second quarter of 2025.
Once the operation is finalized, MSC intends to submit a takeover bid to acquire the remaining outstanding shares of Wilson Sons under the same conditions offered to the former major shareholder.
Wilson Sons is one of the biggest Brazilian port and maritime operators, with headquarters in southeastern Rio de Janeiro state.
