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MSC Finalizes Acquisition of French Logistics Company Clasquin

MSC Finalizes Acquisition of French Logistics Company Clasquin

The Logistic News by The Logistic News
March 25, 2024
in Business, Cargo, Logistic
Reading Time: 1 min read
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MSC Finalizes Acquisition of French Logistics Company Clasquin
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The global shipping titan, Mediterranean Shipping Co (MSC), through its affiliate Shipping Agencies Services (SAS), has finalized a strategic investment to acquire a 42% stake in Clasquin, a notable entity in the air and sea freight forwarding and logistics domain, listed on the Paris stock exchange.

This deal sees SAS taking over the stakes currently held by Yves Revol, the chairman of Clasquin, and the private equity entity based in Lyon, Olymp. Additionally, SAS plans to further acquire shares from the open market, contingent upon fulfilling specific post-closure conditions.

The acquisition price proposed by SAS is just above €142 per share ($154), offering a significant 60% premium on the share price prior to MSC’s initial bid in December, and an additional 13.17% above the ongoing market rate.

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Endorsed by Clasquin’s CEO and the senior management team, who have also agreed to offer their shares, representing an 8.5% stake, in the bid, the company is set to continue its operations under the existing management and brand name following the completion of the acquisition, anticipated by the end of the year.

In line with the acquisition trends of the sector’s leading firms, MSC, the largest container shipping line globally, has been active in the logistics acquisitions arena. This move is part of a broader strategy fueled by the robust earnings from the golden era of container shipping, highlighted by the landmark $6.3 billion purchase of Bolloré Africa Logistics, which is now operating under the name Africa Global Logistics (AGL).

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