June 20, 2019

MSC Enters Messina Group With a 49% Stake and Takes Four Con-Ro Ships

Gianluigi Aponte’s Italian holding Marinvest and Ignazio Messina & C. Group have formally signed the agreement which makes MSC new owner of four ships and of a minority stake in the shipping company.

Aponte will invest €25m for a 49% stake in the Genoa-based group and for a 52% stake in a new single purpose vehicle controlling four of the eight modern con-ro ships. More specifically the units set to be 52% controlled by MSC will be JOLLY DIAMANTE, JOLLY PERLA, JOLLY TITANIO and JOLLY COBALTO.

Messina has a financial exposure of over €450m mainly with Banca Carige, related to the fleet renovation plan completed in the last few years with 8 new con-ro ships built in South Korea by Daewoo and STX shipyards from 2011 to 2015.

Besides the fresh capital Gianluigi Aponte will put in the Genoa-based shipping company, also the Messina family will put €5m on the table to re-launch the business which will be possible also through several operative synergies between the Italian and the Swiss firms.

The agreement is subject to the approval of the competent antitrust and port authorities.