MSC, the world’s largest container shipping company, has taken a significant step into the logistics sector through its subsidiary, Shipping Agencies Services (SAS). SAS has secured a 42% stake in Clasquin, a Paris-listed company specializing in air and sea freight forwarding and logistics.
The deal involves acquiring the shares currently held by Clasquin’s chairman and a private equity firm. Additionally, SAS plans to purchase the remaining Clasquin stock on the market under specific conditions.
This move comes at a premium price for Clasquin shareholders. SAS offered over €142 per share, representing a significant increase compared to both Clasquin’s pre-approach price and the current market value.
Clasquin’s leadership seems to endorse the acquisition. Both the CEO and senior management have committed to tendering their shares. Notably, the company is expected to maintain its current name and management structure even after the deal closes, which is anticipated by the end of 2024.
MSC’s acquisition of Clasquin follows a trend in the industry. Buoyed by profits from the recent boom in container shipping, major players like MSC are increasingly venturing into the logistics space. This move echoes MSC’s prior acquisition of Bolloré Africa Logistics, now known as Africa Global Logistics (AGL), for a staggering $6.3 billion.
