Grimaldi’s purchase of TDT Livorno officially recognised

News

Italy’s Competition and Markets Authority (AGCM) has acknowledged that Grimaldi Group will be buying the whole of Terminal Darsena Toscana from GIP Gruppo Investimenti Portuale

As reported last week, the respective British and French investment funds Infracapital and IntraVia are selling their combined 95% shares in GIP and AXA is taking over the shares in SECH and PSA Pra’ in Genoa and Vecon in Venice, while Grimaldi was tipped to be in the frame to buy TDT in the Port of Livorno.

 

The AGCM has been sent and reviewed all the doucments and any third parties wanting to express an interest in the TDT deal have until just 27 December to submit their comments. In practice, therefore, the deal is being nodded through.

 

Barring surprises, Grimaldi Euromed SpA will acquire 80% of TDT and Grimaldi Deep Sea SpA will acquire the other 20%. The price is thought to be around €150M, or the same that MSC had offered for TDT.

 

MSC withdrew its offer for unexplained reasons, but it is widely believed to be because AGCM had warned the company its bid could not be accepted as it already controlled Lorenzini Srl in the Tuscan port, and would thus have too much market power.

 

Grimaldi has had operations in the port for years, but the spaces are dispersed and sub-optimal. TDT represents a strategic base in the Upper Tirrenian, convenient for all its ro-pax, deepsea con-ro and ro-ro business, along with its Motorways of the Seas links within Italy – it is particularly convenient for links to Sardinia – and across to Spain.

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Grimaldi’s purchase of TDT Livorno officially recognised ‣ WorldCargo News

Grimaldi’s purchase of TDT Livorno officially recognised

News

Italy’s Competition and Markets Authority (AGCM) has acknowledged that Grimaldi Group will be buying the whole of Terminal Darsena Toscana from GIP Gruppo Investimenti Portuale

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