by Lloyd's List
21 October 2024 (Lloyd's List) - MEDITERRANEAN Shipping Co will purchase a majority stake in Brazilian terminal operator Wilson Sons for R$4.352bn ($768m).
Ocean Wilsons Holdings announced via the London Stock Exchange that it would be selling its 56.47% stake in Wilson Sons to MSC’s subsidiary SAS Shipping Agencies Services.
The sale is expected to be completed in the second half of 2025 after regulatory approval is granted.
Wilson Sons chair Caroline Foulger said the sale represented “the successful realisation of our long-term investment in Wilson Sons, demonstrating our ability to identify opportunities to create significant value for our shareholders”.
“Since our initial investment, Wilson Sons has demonstrated significant financial growth and is today the largest integrated port and maritime logistics operator in Brazil. Under SAS's ownership, we are confident that Wilson Sons will benefit from additional resources and support.”
Foulger said the board believed it was a “compelling time to realise its investment”.
Wilson Sons operates terminals at Rio Grande and Salvador, as well as running several other maritime businesses including an 80-vessel tug fleet and a shipyard in Santos, Brazil.
According to the London Stock Exchange, Wilson Sons still possesses assets worth $1.1bn.
