Gianluigi Aponte’s Mediterranean Shipping Company (MSC) has been forced to divest its 49% stake in Moby, the ferry company owned by the Onorato family operating between Italy and the islands of Corsica, Sardinia, and Sicily.
Italy’s Antitrust Authority announced on 24 October [in Italian] that it has accepted and made binding the commitments offered by MSC’s Shipping Agencies Services (SAS), Moby, and Grandi Navi Veloci (GNV), setting the terms of the divestment.
Under the settlement with the Competition Authority, SAS — a sub-holding of MSC — will transfer its 49% shareholding in Moby, free of charge, to Onorato Armatori, and will relinquish its pledge on the remaining 51%. The companies have also agreed to provide compensation to consumers who purchased tickets on Moby ferries.
It is also a setback for Moby, which has been ordered to repay the loan granted by Aponte’s group. The company announced a financial restructuring plan that includes the sale of assets. The proceeds will be used to repay the loan, while maintaining operations through charter-back agreements on some of the sold assets. If the proceeds are insufficient to cover the debt, the remaining amount will be transferred to independent third parties on terms safeguarding Moby’s financial stability.
The divestment is considered a win for the Grimaldi Group, which had challenged MSC’s investment in Moby on competition grounds.
