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28 June 2022 The on-line newspaper devoted to the world of transports 15:23 GMT+2

June 16, 2022

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MSC in talks to buy the terminal operator of the Global Ports Holding cruises

The offer could be made official by July 13

The Swiss shipowning group Mediterranean Shipping Company (MSC) is interested in the acquisition of Global Ports Holding (GPH), the Turkish terminalist company that is world leader in the cruise industry. In a note to the Stock Exchange of London, GPH announced that it had been contacted by a division of the MSC Group to discuss the possible acquisition and specified that GPH's main shareholder, Global Investment Holdings (GIH), which is a company founded and controlled by Turkish businessman Mehmet Kutman, has ongoing negotiations with the MSC. In particular, the negotiations are focused on on a potential cash offer for the entire capital shares of Global Ports Holding.

According to the rules of the Stock Exchange, MSC has time until the next 13 July to communicate the intention to make an offer, deadline which, however, could be extended with consent of the UK Commission on Public Offers of acquisition.

Global Ports Holding recalled that it is the holder of agreements relating to 26 ports in 14 nations both in the Mediterranean, where GPH holds a 29% share of the market, both in Northern Europe, in the Caribbean and Asia, handling 1.5 million passengers annually within more than 5,400 ship ports. The Turkish company has also recalled that this year it has signed contracts of concession to carry out port activities in Tarragona, in Spain, and in Crotone, Italy. In addition, Global Ports Holding has highlighted that your business is in the process of recovery after the impact of the COVID-19 pandemic on the cruises that caused a sharp drop in passenger traffic both cruises and ferries. GPH also specified that to have returned to profitability after two years at a loss.

In addition, Global Ports Holding pointed out that MSC, in addition to to be the world's leading shipping company in the container, is also active in the field of port terminals through Terminal Investment Ltd. (TIL) and in that of cruises through a brand - MSC Cruises - which is becoming one of the leading world brands and also operates in the ferry sector, in which it has recently expanded its presence through a investment in the Moby group ( of 25 March 2022). MSC is also expanding its reach in the logistics market, also with the recent acquisition of logistics activities of the Bolloré group ( of the 1st April 2022).

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