On 21st Oct, Wilson Sons stated it is selling 56% of its share to MSC for $768 Million USD.
SAS( Shipping Agency Services), a MSC subsidiary will be buying the stake in Wilson sons. MSC continues its expansion in Brazil after acquiring Log in Logistica on 2021 , a local logistics company in Brazil.
Important details of Wilsons Sons
- It’s a 180+ year old company.
- Largest Logistics operator in Brazil
- Deals in shipping, towage, Offshore oil exploration & support, vessel construction.
- They operate 2 container terminals in Brazil – Tecon Rio Grande & Tecon Salvador.
- The company’s asset is valued around $1 billion as on FY 2023.
The legal process for approval is pending and is expected to be completed by Q2 2025.
This acquisition is the second largest acquisition for 2024 for MSC in terms of monetary transaction. The First acquisition was for Gram Car careers.
MSC is also in spree to acquire different ports in France, Germany and other European countries.
Will keep you posted.
