Swiss-based liner giant Mediterranean Shipping Co (MSC) has secured regulatory approval for the takeover of Brazilian port and maritime logistics operator Wilson Sons.
London-listed Ocean Wilsons Holdings said in a filing that the sale of its 56% interest in Wilson Sons to MSC subsidiary Shipping Agencies Services has been accepted by the Brazilian National Waterway Transportation Agency (ANTAQ).
The ANTAQ condition was the final one to be satisfied concerning the R4.352bn ($768m) transaction now expected to close by June 4.
The world’s largest boxline has been seeking to expand its footprint in Brazil following its acquisition of regional container shipping operator Log-In Logistica in late 2021.
Wilson Sons operates the Tecon Rio Grande container terminal in Rio Grande, Rio Grande do Sul, and the Tecon Salvador container terminal in Salvador, Bahia. The company, whose assets are valued at more than $1bn, also operates one of the largest tugboat fleets in Latin America.
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