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MSC secures USD 1.9 billion from port sale

The world's second-largest container carrier MSC has sold 35 percent of its global terminal business, thus securing a reported USD 1.9 billion.

Photo: APM Terminals

MSC Mediterranean Shipping Company S.A., the world's second-largest container carrier with a fleet of 454 ships, has completed the sale of a 35 percent share of the company's global port business, Terminal Investment Limited SA.

The share was bought by investment company Global Infrastructure Partners (GIP) and a group of investors, and besides the fact that the new partnership is a strategic business, as stated by the parties in a press release, MSC receives a significant billion-dollar figure, which analysts have described as an important cash reserve for MSC during the extremely difficult conditions for the major container carriers on Asia-Europe.

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