MSC Acquires 42% Stake in Logistics Specialist Clasquin

An MSC container ship at sea
Updated Published

Maritime heavyweight Mediterranean Shipping Co (MSC) has, through its affiliate Shipping Agencies Services (SAS), agreed to purchase a 42% share in the air and sea freight forwarding company Clasquin, which is listed on the Paris stock exchange.

The acquisition will see SAS taking over the shares currently owned by Clasquin's chairman, Yves Revol, and the Lyon-based private equity group Olymp. Following the completion of this deal, SAS intends to acquire any remaining shares available on the market under certain conditions.

SAS's offer stands at just above €142 per share ($154), marking a 60% increase over Clasquin's share price prior to MSC's initial proposal in December, and offers an additional 13.17% over the prevailing market price.

The transaction has received support from Clasquin’s CEO and the senior management team, who have agreed to sell their shares, amounting to an approximate 8.5% ownership, in the bid. Post-acquisition, Clasquin is anticipated to retain its existing management team and brand name, with the deal expected to finalize by the year's end.

This move is part of MSC’s broader strategy to expand its logistics capabilities, leveraging the substantial profits garnered during the recent boom in container shipping. This strategy includes significant acquisitions, such as the $6.3 billion purchase of Bolloré Africa Logistics, now rebranded as Africa Global Logistics (AGL), mirroring efforts by other leading companies in the sector to enhance their logistical operations.