Brazil Green-Lights MSC's Purchase of Maritime Conglomerate Wilson Sons

 

Brazilian regulators have approved MSC's planned takeover of Wilson Sons, paving the way for the sale's closing. 

Last October, MSC announced plans to buy a 56-percent stake in Wilson Sons from Ocean Wilson Holdings, which had been rumored to be considering a sale since at least 2023. At least one other firm considered placing a bid, but MSC ultimately secured a deal at a price of $760 million. Once the purchase is completed, MSC will launch a public tender offer for the remaining shares in the company, bringing the total transaction value to about $1.35 billion. 

Wilson Sons has been in business in Brazil's ports and towage industry for more than 180 years, and has interests spanning the full breadth of the nation's maritime sector. It has Brazil's largest tugboat fleet, nearly two dozen offshore vessels, two offshore-industry terminals, a container terminal JV, two shipyards, a freight logistics division and a shipping agency, among other assets. The purchase would dovetail with MSC's acquisition of Brazilian coastwise carrier Log-In Logistica in 2021, giving it a foothold in Brazil's cabotage trade. 

It is one of a string of acquisitions that the Aponte family - owners of MSC and Terminal Investment Limited (TIL) - is looking to add to its global ports portfolio. On Thursday, Hong Kong-based ports giant CK Hutchison confirmed that TIL is leading a consortium to buy out Hutchison's global container terminal network, amounting to more than 40 terminals. The transaction is said to be worth about $23 billion - assuming that Hutchison can overcome opposition from Chinese regulators.