MSC reportedly in talks to buy Brazilian Wilson Sons for $1 billion
Mediterranean Shipping Company (MSC), a Swiss maritime transport company, is currently in negotiations to acquire Wilson Sons, a long-standing Brazilian company with a rich history spanning nearly two centuries, according to O Globo newspaper. MSC’s acquisition target surfaced, $1 billion in exchange for 57% of the shares. After spending $6.7 billion to acquire Bolloré Africa Logistics, MSC, the world’s largest container shipping company, has set its sights on South America, the largest emerging market. According to the analysis, this is MSC’s return to the South American market after last year’s acquisition of Log-in Logistica, a well-known South American container shipping company ranked 51st in terms of global shipping capacity.
According to the latest reports, recently, Brazilian media said that Switzerland-based shipping giant MSC is negotiating to acquire Brazil’s largest port and shipping logistics company Wilson Sons. According to reports, MSC plans to spend about $1.02 billion to acquire about 57% of the company’s shares from the parent company of Wilson Sons. According to this, the corresponding market value of Wilson Sons will exceed $1.7 billion.
Statistics show that Wilson Sons is the largest integrated port and maritime logistics operator in the Brazilian market, providing supply chain solutions, with more than 180 years of experience, and Ocean Wilsons Holdings Limited, which is listed in London, owns 57% of the company’s shares.
In a statement, Ocean Wilsons said all potential options would be considered as part of the assessment. But the company noted that it is still early days and its results remain uncertain. Meanwhile, Ocean Wilsons added that it has not received any formal proposals from any third party for a potential deal involving Wilson Sons. Shares in Wilson Sons surged more than 12% after the news, while Ocean Wilsons also jumped 12%.
But MSC has yet to comment on the rumored $1 billion acquisition of Wilson Sons. The potential Wilson Sons deal would be the MSC’s second major investment in Brazil in as many years. In September 2021, MSC acquired at least 62% and up to 67% of the issued and outstanding shares of Log-in at $4.79 per share, valuing the Brazilian company at more than $500 million.
About Wilson Sons
Founded in 1837, Wilson Sons is the largest integrated port and maritime logistics operator in the Brazilian market. The company operates the Tecon Rio Grande container terminal in Rio Grande do Sul and the Tecon Salvador container terminal in Salvador, Bahia, and provides commercial agency services on behalf of shipowners in major Brazilian ports.
In addition, Wilson Sons operates one of the largest tugboat fleets in Latin America, with more than 70 vessels, and has a joint venture with the Chilean group on platform supply vessels. The company also offers integrated logistics solutions, and at its shipyard in Guaruja. Wilson Sons builds and maintains its offshore and towage fleet, as well as providing small and medium-sized vessel construction services to third parties. In the first quarter of this year, Wilson Sons’ net income rose 7.8% year-on-year to approximately $120 million.
