MSC and Messina finally engaged
Switzerland-based MSC has acquired 49% of the Messina Group's shares. Banca Carige and Messina say that they have reached a final agreement about the debt terms and that they believe the MSC Group will play an active role as a new partner.
Messina Group, Banca Carige and other interested banks have formalised the agreement to pave the way for Gianluigi Aponte's MSC group to participate in the Genoa (Italy)-based shipping company Messina. The company is burdened by a debt of over EUR 450 million, 90% of which is attributable to Carige.
The takeover scheme envisages the creation of a new company in which four of the eight vessels covered by the loan contracts will merge with Carige, and MSC will be the majority shareholder with a 52% stake.
Aponte will hold a minority 49% share in Ignazio Messina & Cie, which will continue to own the remaining four ships, the port terminals and the rest of the shipping business. (kd)