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Medcenter Container Terminal sale agreed

Agreement has reached between Contship Italia SpA and Terminal Investment Ltd (MSC) for the control of Medcenter Container Terminal in Gioia Tauro

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Medcenter Container Terminal sale agreed

The announcement comes just two weeks after the parties disclosed that they were in negotations for MSC to buy Contship Italia’s 50% stake in the struggling Italian transhipment terminal.

To be exact, Contship Italia is selling its 50% stake in CSM Italia Gate, to the other 50% owner, Itaterminaux Sàrl, a fully controlled subsidiary of Terminal Investment Ltd. Closing is subject to regulatory approvals and the parties involved are not disclosing terms.

 

In a farewell statement, Contship Italia SpA has expressed "its gratitude to all MCT employees, customers, suppliers and partners, including TIL, who supported the container terminal activities in Gioia Tauro, whose operations were started by Contship 24 years ago."

 

TIL said it is grateful to Contship Italia SpA for the excellent cooperation over many years and during the negotiations leading to the execution of the share purchase agreement.

 

Maurizio Delfino, Stanislao Chimenti e Luca Leonardi of Delfino e Associati Willkie Farr & Gallagher LLP assisted Contship Italia, while Carlo Grignani, Alberto Torrazza ed Ekaterina Aksenova of NCTM assisted TIL.

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